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Broadcom Under Pressure



May 31, 2011 – Comments (0)

Broadcom Corp.(NASDAQ:BRCM) is one of the leading semiconductor stocks that has come under selling pressure this afternoon. BRCM stock is trading lower today by $1.14 to $35.38 a share. This stock is selling off sharply lower today after staging a three day rally into important daily chart resistance. Short term day traders should watch the $34.60 area as intra-day support.

Most other leading semiconductor stocks are trading higher on the trading session. The Semiconductor Holders Trust(NYSE:SMH) is trading higher by 0.38 cents to $35.71 a share, therefore, the decline in Broadcom stock is very specific to this company.

Nicholas Santiago

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