Broadcom (AVGO) stock price recorded a slight decline in its latest intraday trading, as the stock attempts to gain positive momentum that could help it recover and move higher again. At the same time, the price is trying to ease part of its clear overbought conditions on the Stochastic indicator, especially with the beginning of a negative crossover. This comes while the stock is affected by a positive technical pattern formed in the short term, represented by a falling wedge, alongside continued positive dynamic pressure as it trades above its 50-day SMA.

Therefore we expect the stock price to rise during its upcoming trading sessions, as long as it remains stable above the support level at $324.50, targeting the resistance level at $382.00.

Todays price forecast: Bullish