Broadcom (AVGO) stock continued its rise in recent intraday trading, successfully breaking through its current resistance level at $283.00. The move comes under strong control of the prevailing upward trend, with the stock trading along a short-term ascending trendline. Positive pressure remains from trading above the 50-day SMA, coupled with reinforcing bullish signals from the Relative Strength Index.

Therefore we expect the stock to rise in upcoming sessions, especially as long as it remains above $283.00, targeting the initial resistance level at $304.00.

Todays price forecast: Bullish.