BROADCOM CORP
(BRCM-Nasdaq):
Technical Viewpoint: From a low
of $24.34 on Aug 26, 2003 prices
rallied, reaching a
high of $28.25
on Sep 8, 2003. A
decline saw prices pull back, reaching a
low of
$25.56 on Sep 22, 2003.
Another rally saw prices penetrate
resistance, closing 10/7/03
at $30.85. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Aug 21, 2003 when the Histogram crossed the "0" line to the upside.
Support: Remains at $27.00. Resistance: Is at $31.36.
Point & Figure: Reversed to the upside on Oct 7, 2003. A P&F upside
reversal takes place at $29.50. Summary: Technical indicators have turned bullish. BUY! BROADCOM CORP
(BRCM-Nasdaq) @ $31.13 Stop: Use a protective stop of $29.13.
BROADCOM CORP is currently trading @ $30.85 plus $1.69 on Oct 7, 2003. Price Objective:
$40.50. Risk/Reward: $2.00 VS. $9.38. Today's Risk Reward Ratio: 5:1
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