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Technical Analysis
- 11/20/2009 8:54:19 AM
By Chip Brian, SmarTrend Analytics Team
Broadcom (NASDAQ:BRCM) initiated with an Outperform at BMO Capital. The stock closed yesterday at $29.16 on volume of 8,291,700 shares, below average daily volume of 9,473,542.
Broadcom is currently above its 200-day moving average of $24.80 and should find resistance at its 50-day moving average of $29.18.
SmarTrend is bullish on shares of BRCM and our subscribers received an Uptrend alert on November 11, 2009 at $28.67, which has returned 1.7% to date.
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