This Market-Leading ETF May Be Breaking Out
Broadcom
(
BRCM |
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PowerRating) this morning beat estimates by .04 and
guided higher. In TradersWire this morning, we notified you to a good looking
setup, which panned out very well. Currently the stock is trading near its
intraday highs, and also at the top of a resistance area on the daily. The stock
also crossed above its 200-day moving average this morning.
The Semiconductor HOLDRs are trading near their highs intraday, and also
seems to be taking out a triple top formation on the daily. A breakout
here looks fairly positive for the semis.
Have a good afternoon.
Brice Wightman