Broadcom price breaches upside trend line - Forecast today - 19-04-2024

Broadcost’s stock price (AVGO) fell in the intraday levels and trespassed the support of the 50-day SMA, exposing the stock to negative pressure and piercing the upward correctional short-term trend, with negative signals from the RSI, thus doubling negative pressures.

Therefore we expect more losses for the stock, targeting the important support of $1174, provided the pivotal resistance of $1438 holds on.

Trend forecast: Bearish