Tuesday, June 17, 2025
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Watch These Broadcom Price Levels as Stock Soars on Strong AI Sales Growth

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Source: TradingView.com
Source: TradingView.com
  • Broadcom shares surged in extended trading Thursday after the chipmaker reported better-than-expected earnings and issued a rosy outlook amid robust AI-driven sales growth.

  • The stock sits poised to break out from a ascending triangle on Friday, setting the stage for a continuation of the stock’s longer-term uptrend.

  • The bars pattern tool, which extracts the stock’s trend higher from December 2023 to June this year and repositions it from the ascending triangle’s top trendline, forecasts an upside target of around $315.

  • Investors should watch key support levels on Broadcom’s chart during pullbacks near $185 and $140.

Broadcom (AVGO) shares surged in extended trading Thursday after the chipmaker reported better-than-expected earnings and issued a rosy outlook amid robust AI-driven sales growth.

The company said its fiscal 2024 AI revenue more than tripled, driven by its AI XPUs and Ethernet networking portfolio. After-hours gains accelerated after CEO Hock Tan told analysts on the company’s earnings call that he anticipates significant AI opportunities over the next three years, adding that he sees accelerators and networking sales in fiscal 2027 ranging between $60 billion and $90 billion.

Through Thursday’s close, Broadcom shares had gained 64% since the start of the year. The stock rose 14% to around $206 in extended trading.

Below, we break down the technicals on Broadcom’s weekly chart and identify key price levels worth watching out for.

Broadcom shares have consolidated within an ascending triangle since mid June, a chart pattern that signals a continuation of the stock’s longer-term uptrend.

Indeed, the price sits poised to break out above the formation’s top trendline on Friday, setting the stage for further upside.

Moreover, the relative strength index (RSI) gives a reading just above 50, confirming bullish momentum and indicating the shares have ample room to test higher prices as they move into price discovery.

Let’s apply technical analysis to forecast a potential upside price target and also identify two key support levels that would likely attract buying interest during retracements.

To forecast an upside target in the stock, investors can use the bars pattern tool, which analyzes prior trends to help predict future directional moves.

When applying the tool to Broadcom’s chart, we extract the stock’s trend higher from December 2023 to June this year and reposition it from the ascending triangle’s top trendline. This projects a longer-term upside target of around $315.

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