Broadcom (BRCM): Chart Analysis

Presented above is a 12 months chart. It has been a long 12 months for BRCM. As indicated by the trendlines, it appears that BRCM had cleared the longer as well as the shorter term trendline. I see the activity during mid-nov through early Feb as a consolidation area. It recently broke out of the range on noticably higher than normal volume. BRCM faces resistance at $37.5 but given the recent action, it should be able to move beyond that with ease. The next stop may well be $47 area with minor consolidation on its way up.