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Watch for Continued Losses in Shares of Broadcom Ltd (AVGO)

By Nick Russo

Shares of Broadcom Ltd (NASDAQ:AVGO) traded today at $197.46, breaking its 52-week low. This new low was reached on above average trading volume as 17.5 million shares traded hands, while the average 30-day volume is approximately 3.3 million shares.

Broadcom Limited designs, develops, and supplies semiconductors and integrated circuits. The Company offers products such as broadband carrier access, cables, switches, network processors, and wireless connectors. Broadcom markets its products worldwide.

There is potential upside of 54.6% for shares of Broadcom Ltd based on a current price of $200.71 and an average consensus analyst price target of $310.39. The stock should find initial resistance at its 50-day moving average (MA) of $248.50 and further resistance at its 200-day MA of $251.70.

Broadcom Ltd share prices have moved between a 52-week high of $285.68 and the current low of $197.46 and are currently at $200.71 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

SmarTrend is tracking the current trend status for Broadcom Ltd and will alert subscribers who have AVGO in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows broadcom ltd

Ticker(s): AVGO