After some poor earnings reports and suspect purchases, Broadcom was “put in the hole” by the market – but the company may start to dig its way out. The recent base, which you can see on the chart, clearly shows buying support above 26, and the current price appears to have breakout potential. Monday it closed above the higher bollinger band, and it continues to pick up more volume. Options have been somewhat active of late, and with a move above 28, this could quickly fill the gap around 30. From there it could work toward 33-35 before taking a significant rest.
