The tweet was deleted by the author.
But we saved everything 🙂.
Broadcom unveiled its latest Wi-Fi 8 system-on-chip for residential devices. The stock edges higher on the day, trading at $365.32.
Broadcom revealed the BCM6775, a new highly-integrated tri-band, AI-ready Wi-Fi 8 system-on-chip. The product is intended for use in ultra-compact residential access points and extenders. The chip brings true tri-band radios and the Broadcom Neural Engine together on a single die.
View post on X Loading...
RSI at 35.4 is nearing oversold territory, hinting that the recent decline may be getting stretched. Shares of Broadcom remain below their MA-20, MA-50, and MA-200, which maintains the bearish daily chart structure. The nearest resistance is MA-200 at $369.14, capping any short-term recovery attempts.
A move above $369.14 would indicate buyers are willing to challenge the prevailing trend. With RSI at 35.4 approaching oversold conditions, the recent weakness appears extended and could support stabilization. Even so, from here, there is a 21% probability of an upside move and a 79% probability of further downside, with an expected trading range of $346.68 to $383.95 over the next five trading days. A close above resistance would confirm acceptance, while a drop below $357.69 would show the move is being faded. On the weekly chart the longer-term picture stays mixed.
Earlier, analysts noted that Broadcom faced elevated downside risk amid technical weakness, institutional selling, and intensifying competitive pressures. The introduction of the BCM6775 and a modest price uptick offer a potential catalyst, but traders should closely monitor the $369.14 resistance for signs of a shift in the prevailing downtrend.