Watch for Avago Technologies to Potentially Pullback After Gaining 2.17% Yesterday
Avago Technologies (NASDAQ:AVGO) traded in a range yesterday that spanned from a low of $170.54 to a high of $172.87. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $172.64 on volume of 596,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Avago Technologies share prices have moved between a 52-week high of $179.42 and a 52-week low of $100.00 and are now trading 73% above that low price at $172.53 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has remained constant.
SmarTrend is tracking the current trend status for Avago Technologies and will alert subscribers who have AVGO in their portfolio or watchlist when shares have changed trend direction.
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