Broadcom Reached Our Price Target - Now What?
Don't jump the gun, wait for this to play out.
During the fast-paced Lightning Round segment of
Mad Money Tuesday night, one caller asked Jim Cramer about Broadcom AVGO: "This is a high-multiple stock that has people spooked. I own it for my charitable trust and you should, too," replied the host.
Let's check on the charts of AVGO. Our last review was back on December 2 when we wrote, "Raise stop protection to $370 and look to book some profits on approach to $420. Our new Point and Figure target of $490 cannot be ruled out but with price momentum slowing I don't want to be too bullish on AVGO."