Broadcom (AVGO) stock price came under heavy selling pressure in its latest intraday trading, plunging sharply and breaking below the support of its 50-day SMA. This breakdown exposes the stock to additional negative pressure that is likely to influence its upcoming movements, especially with continued negative signals from the Stochastic indicators after reaching deeply overbought levels. All of this comes within the context of an ongoing corrective move against the main medium-term bullish trend.

Therefore we expect the stock price to continue its corrective decline in the upcoming trading sessions, as long as it remains below the $426.50 resistance level, targeting the $353.00 support level.

Today’s price forecast: Bearish.

Ethereum price (ETHUSD) rose in its recent intraday trading, attempting to correct the main bearish trend on the short-term basis, amid its trading alongside supportive trend line for this negative path, with the continuation of the dynamic pressure due to its trading below EMA50, which reduces the chances of sustainable recovery in the upcoming near period, especially with the emergence of the negative signals from the relative strength indicators, after reaching overbought levels.

Brent crude oil price slipped lower during its recent intraday trading, after testing minor bearish trend on the short-term trend, accompanied by the emergence of negative overlapping signals on the relative strength indicators, after reaching overbought levels, leaning on EMA50’s support, keeping the chances of moving higher again valid in the upcoming near period, conditioned by breaching the bearish trend line.

Bitcoin (BTCUSD) keeps its early gains for today, amid the attempt of correcting the main bearish trend on the short-term basis, supported by the emergence of the positive signals from the relative strength indicators, after offloading some of its overbought conditions, keeping the chances of extending these gains valid in the upcoming near period, suffering from the negative and dynamic pressure that is represented by its trading below EMA50, threatening these last gains to vanish amid this pressure.