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Look for Shares of Broadcom Ltd to Potentially Rebound after Yesterday's 3.95% Sell Off

By David Diaz

Broadcom Ltd (NASDAQ:AVGO) traded in a range yesterday that spanned from a low of $222.39 to a high of $226.49. Yesterday, the shares fell 3.9%, which took the trading range below the 3-day low of $231.58 on volume of 771,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

In the past 52 weeks, shares of Broadcom Ltd have traded between a low of $197.46 and a high of $275.70 and are now at $222.88, which is 13% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

Keywords: rebounders broadcom ltd

Ticker(s): AVGO