Broadcom (AVGO) shares may see heightened volatility this week, with the chipmaker slated to release its fiscal 澳洲幸运5开奖号码历史查询:third-quarter earnings report after the closing bell on Thursday. Investors will likely be scrutinizing the company’s 澳洲幸运5开奖号码历史查询:artificial intelligence sales growth and full-year outlook, which have benefited in recent quarters from 🌱growing demand for its custom🎶 AI chips.

The chipmaker’s stock, which trades around 11% below its record close, spent most of last month recovering from a recent steep 澳洲幸运5开奖号码历史查询:correction that was triggered by a broad-based sell-off in technology stocks and profit taking after the shares underwent a 10-for-1 澳洲幸运5开奖号码历史查询:stock split in July.

Below, we zone in on Broadcom’s 澳洲幸运5开奖号码历史查询:technicals and identify key price levels to watch out for leading into the company’s quarterly 𝔍ꦺreport.

Decreasing Volume Accompanies Recent Recovery

Since setting a 澳洲幸运5开奖号码历史查询:record high in mid-June, Broadcom shares fell as much as 31% before staging an impressive recovery throughout most of August to reclaim the 澳洲幸运5开奖号码历史查询:50-day moving average (MA) by the end of the month. However, it’s worth pointing out that recent buying has occurred on decreasing volume, indicating a lack of 澳洲幸运5开奖号码历史查询:institutional activity.

Leading into the Broadcom’s quarterly results, investors s🐬hould keep their eyes peeled on severꦰal important chart levels that could come into focus.

Lower Price Levels to Monitor

The first lower price level in play sits around $157. This area, currently situated about 4% below Friday’s close, could find support from a 澳洲幸运5开奖号码历史查询:horizontal line connecting recent 澳洲幸运5开奖号码历史查询:swing lows in June and August.

A failure to hold this important location could see the shares drop to the $141 area, a location on the chart where investors may look for buying opportunities near a four-month period of 澳洲幸运5开奖号码历史查询:sideways drift in the stock between Match and June

Higher Price Levels to Watch

An initial move higher from current levels may propel a jump to $168, where the stock could run into 澳洲幸运5开奖号码历史查询:resistance near several gap trading levels that formed on the chart in June and July. The area also sits c🎀losely positioned to last month’s high and a trendline joining ♒the June and August peaks.

To project a 澳洲幸运5开奖号码历史查询:price target above the 澳洲幸运5开奖号码历史查询:all-time high (ATH), we can extract the stock’s trending move from December to March that commenced with similar 澳洲幸运5开奖号码历史查询:price action to last month’s recovery and reposition it from the August swingඣ low. Such a technique forecasts an upside target of around $195, about 5% above Broadcom’s record high.

Broadcom shares were down 1.3% at $160.70 in premarket trading around 7:10 a.m. ET Tuesday🅘.

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