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Bearish Pattern On $AVGO Signals Semi's Likely Topped

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Multiple semiconductor stocks, including Broadcom Ltd (NASDAQ:AVGO) have bearish pattern formations. This coincides with the semiconductor index (SMH) barely staying positive on Tuesday, when the market ripped sharply higher. Ultimately, a smart investor can only conclude that the semi's should see further downside. Broadcom will likely be a catalyst as one of the biggest semi stocks. Once the bear flag pattern begins to fall, expect all semi's to give way. Broadcom has downside to a target of $199.00.

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Semiconductor stock Broadcom Ltd has strong bearish pattern


This article was written by ST G for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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