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Broadcom Could Give Technology Stocks A Boost
Tonight will be abbreviated, but a few positive developments in Tech today.
Broadcom $AVGO reported strong results, coming in ahead of estimates, and giving strong fiscal first quarter 2018 guidance. It should put a bid into many of the Apple suppliers and the whole technology sector tomorrow.
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AVGO Price data by
As the chart above shows the group has been crushed over the past 5days. But the strong results and guidance should reverse that.
Biotech $IBB shares continue to come under pressure, reversing much of the gains we had seen since the bottom two weeks ago. The chart below again shows how the ETF is again testing $100.
Tesla shares broke out today rising above resisitance at$307. It seems like a big breakout, as the stock has stuggled the past few days.
Micon $mu still hasn’t been able to rise above $42. It needs to rise $42, otherwise it likely headed lower.
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Michael Kramer and the Clients of Mott Capital own shares of $TSLA
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Tags: #apple #suppliers #chipmakers #micron #news #stocks #tesla $mu $tsla #biotechs