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Broadcom Ltd Set to Possibly Pullback After Yesterday's Rally of 3.40%

By David Diaz

Broadcom Ltd (NASDAQ:AVGO) traded in a range yesterday that spanned from a low of $279.09 to a high of $284.08. Yesterday, the shares gained 3.4%, which took the trading range above the 3-day high of $278.78 on volume of 626,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Broadcom Ltd have traded between a low of $208.23 and a high of $323.20 and are now at $283.79, which is 36% above that low price. The 200-day and 50-day moving averages have moved 0.23% higher and 0.7% lower over the past week, respectively.

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: rebounders broadcom ltd

Ticker(s): AVGO