BroadCom (BRCM) gapped down after an earnings miss and opened near 25 last week. The stock hit its low in the first 30 minutes with a spike in volume (6 million). The stock subsequently rallied and ended the day with over 30 million shares. Moreover, the stock continued higher the last two days and filled the gap.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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