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Broadcom Ltd Falls 6.55% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Broadcom Ltd (NASDAQ:AVGO) traded in a range yesterday that spanned from a low of $256.57 to a high of $284.33. Yesterday, the shares fell 6.6%, which took the trading range below the 3-day low of $277.41 on volume of 5.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Broadcom Ltd have traded between a low of $197.46 and a high of $323.20 and are now at $262.69, which is 33% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has risen 0.6%.

SmarTrend is monitoring the recent change of momentum in Broadcom Ltd. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Broadcom Ltd in search of a potential trend change.

Keywords: rebounders broadcom ltd

Ticker(s): AVGO