Broadcom (AVGO) declined in its latest intraday trading, confirming a breakdown of its main short-term ascending trendline and signaling the start of a corrective bearish wave. This drop is reinforced by continued negative pressure as the stock trades below its 50-day simple moving average, alongside persistent bearish signals from RSI indicators, despite their presence in extremely oversold territory.

Therefore, we expect the stock to decline in the upcoming sessions, as long as it remains below the resistance level of $359.40, targeting the key support level of $324.50 in preparation for a potential break.

Todays price forecast: Bearish