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TMCNet:  Watch for Broadcom to Potentially Rebound After Falling 1.24% Yesterday

[November 15, 2012]

Watch for Broadcom to Potentially Rebound After Falling 1.24% Yesterday

Nov 15, 2012 (SmarTrend(R) News Watch via COMTEX) -- Broadcom (NASDAQ:BRCM) traded in a range yesterday that spanned from a low of $30.11 to a high of $30.90. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $30.35 on volume of 8.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.

In the past 52 weeks, shares of Broadcom have traded between a low of $27.59 and a high of $39.66 and are now at $30.32, which is 10% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Broadcom on October 3rd, 2012 by issuing a Downtrend alert when the shares were trading at $34.08. Since that call, shares of Broadcom have fallen 10.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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