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Watch for Broadcom Ltd to Potentially Rebound After Falling 2.40% Yesterday

By Amy Schwartz

Broadcom Ltd (NASDAQ:AVGO) traded in a range yesterday that spanned from a low of $265.14 to a high of $270.33. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $270.03 on volume of 888,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Broadcom Ltd share prices have been bracketed by a low of $155.67 and a high of $331.58 and are now at $260.60, 67% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

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.

Keywords: rebounders broadcom ltd

Ticker(s): AVGO