Broadcom Moving Average Crossover Alert

Posted on 07/06/2012 by Edward Connelly

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NEW YORK (AVAFIN) -- Shares of Broadcom crossed below the 50-day moving average indicating a likely bearish trend. Recent trading activity signals that the shares may continue to head lower in the foreseeable future as long as the stock price remains below the moving average line. BRCM shares edged lower 3.44%% percent to $32.58 on Friday with volume at 5.56M.

It is critical to analyze the development of resistance levels given investors expectations continuously evolve and change frequently. The breaking through resistance levels can be prompted by fundamental changes that are above or below investor's expectations. The current support and resistance levels for BRCM are $31.88 and $33.70 respectively.

Broadcom Corporation is a provider of semiconductors for wired and wireless communications.

Broadcom is part of the technology sector and semiconductor - integrated circuits industry and has market cap of 18.56B. The average analyst rating for the stock is buy. Recent performance indicators show that the stock has gained 3.03% within the last month.


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