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Possible Trend Reversal, Broadcom Ltd Down on Heavy Volume (AVGO)

By Amy Schwartz

Shares of Broadcom Ltd are trading today in above average volume, with the share price falling 4.0% to $288.60. Today's volume of 2.3 million shares tops the average 30-day volume of 2.0 million shares. Unusually high volume can signify a potential turning point or validate a breakout.

SmarTrend recommended that subscribers consider buying shares of Broadcom Ltd on August 21st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $286.15. Since that recommendation, shares of Broadcom Ltd have risen 5.0%. We continue to monitor AVGO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Broadcom Ltd share prices have been bracketed by a low of $208.23 and a high of $323.20 and are now at $290.19, 39% above that low price. The 200-day and 50-day moving averages have moved 0.39% higher and 0.21% higher over the past week, respectively.

Keywords: unusual volume broadcom ltd

Ticker(s): AVGO