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Bearish Moving Average Cross by Broadcom Ltd (AVGO)

By David Diaz

Today, shares of Broadcom Ltd (NASDAQ:AVGO) have crossed bearishly below their 10-day moving average of $314.53 on a volume of 273K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Broadcom Ltd has traded in a range of $197.46 to $323.20 and is now at $312.57, 58% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 0.9%.

SmarTrend recommended that subscribers consider buying shares of Broadcom Ltd on March 15th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $291.53. Since that recommendation, shares of Broadcom Ltd have risen 8.3%. We continue to monitor AVGO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses broadcom ltd

Ticker(s): AVGO