AVGO jumped +9.4%, the rally was ferocious
$Broadcom(AVGO)$ : The seventh biggest company in the U.S., jumped +9.4% on Friday (saving the $SPX), reaching my $345 target that was posted last Wednesday in my fundamental analysis on three semiconductor giants.
The rally was ferocious, printing a red candle that signals an imminent return to the Bollinger range. Chasing this move is risky, as a consolidation is likely. As long as the price stays above $326 next week, its short-term momentum lives, but a breach below could lead to a gap fill.
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