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Broadcom Ltd Rises 1.56% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Broadcom Ltd (NASDAQ:AVGO) traded in a range yesterday that spanned from a low of $264.10 to a high of $269.07. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $266.07 on volume of 1.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Broadcom Ltd on May 10th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $241.17. Since that recommendation, shares of Broadcom Ltd have risen 9.3%. We continue to monitor AVGO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Broadcom Ltd has traded in a range of $221.98 to $285.68 and is now at $267.64, 21% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.

Keywords: rebounders broadcom ltd

Ticker(s): AVGO