[June 19, 2013] Watch for Shares of Broadcom (BRCM) to Approach Resistance at $34.93 Tweet Jun 19, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Broadcom (NASDAQ:BRCM) have bullishly opened above the pivot of $34.48 today and have reached the first resistance level of $34.77. Investors may be interested in a cross of the next upside pivot targets of $34.93 and $35.38. In the past 52 weeks, Broadcom share prices have been bracketed by a low of $28.60 and a high of $37.85 and are now at $34.79, 22% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant. Potential upside of 16.7% exists for Broadcom, based on a current level of $34.79 and analysts' average consensus price target of $40.58. The stock should find resistance at its 50-day moving average (MA) of $35.16, as well as support at its 200-day MA of $34.07. SmarTrend is monitoring the recent change of momentum in Broadcom. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Broadcom in search of a potential trend change. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- 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 http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup [ Back To TMCnet.com's Homepage ]