BROADCOM CORP
(BRCM-Nasdaq):
Technical Viewpoint: From a low
of $38.18 on Apr 20, 2004 prices
rallied, reaching a
high of $43.79
on Apr 23, 2004. A
decline saw prices pull back, reaching a
low of
$36.51 on May 17, 2004.
Another rally saw prices penetrate
resistance, closing 5/21/04
at $40.75. Technicals: MACD Index (MACD): A Buy Alert!
was given on May 21, 2004 when the solid line crossed the dotted line to the upside.
Support: Remains at $36.50. Resistance: Is at $43.79.
Point & Figure: Reversed to the upside on May 21, 2004. A P&F upside
reversal takes place at $38.00. Summary: Technical indicators have turned bullish. BUY! BROADCOM CORP
(BRCM-Nasdaq) @ $41.13 Stop: Use a protective stop of $39.13.
BROADCOM CORP is currently trading @ $40.75 plus $2.42 on May 21, 2004. Price Objective:
$55.00. Risk/Reward: $2.00 VS. $13.88. Today's Risk Reward Ratio: 7:1
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