Broadcom Partners with Meta and Google on AI Chips
- Stock Surge: Broadcom (AVGO) shares have surged 21% over the past two weeks, reaching $393 in after-hours trading on Tuesday, tantalizingly close to its record high of $414.61, reflecting strong market confidence in its AI chip business.
- Meta Partnership Expansion: The extended agreement with Meta through 2029 commits to over one gigawatt of computing power, sufficient to power approximately 750,000 American households, marking a significant investment in AI infrastructure by Meta.
- Google Long-Term Collaboration: Broadcom's partnership with Google extends through 2031, encompassing next-generation Tensor Processing Units (TPUs) and networking infrastructure, further solidifying Broadcom's strategic position in the custom semiconductor landscape.
- Analyst Optimism: Despite insider stock sales, analysts maintain a Strong Buy rating on Broadcom, with a price target of $464.32, suggesting approximately 22% upside potential, reflecting confidence in the company's future growth prospects.
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Technical Analysis for AI
Technical Sentiment Analysis for Sleepless AI (AI). As of , Sleepless AI (AI) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 3 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Sleepless AI (AI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0144 | 0.016 | 0.0178 | 0.0194 | 0.0212 | 0.0228 | 0.0246 |
| Fibonacci | 0.016 | 0.0173 | 0.0181 | 0.0194 | 0.0207 | 0.0215 | 0.0228 |
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