AVGO Daily Playbook — Semiconductors
Broadcom is caught in a corrective phase within a broader uptrend: price at 392.90 sits 4.3% below the 50-SMA (410.46) yet remains a healthy 9.32% above the rising 200-SMA (359.39), so the long-term structure is intact while short-term momentum has rolled over. RSI at 46.15 is neutral-soft and MACD at -7.93 below its -2.33 signal confirms downside momentum is still expanding, not yet exhausted. The 200-SMA near 359 is the major support shelf, with the recent swing area around the high-370s/380 as the first line to defend; overhead, the 50-SMA at 410.46 is the pivot bulls must reclaim to neutralize the sell signal, with prior highs above acting as secondary resistance. Setup: watch for either a stabilization wick into the 380–360 zone with RSI basing and MACD histogram contracting (mean-reversion trigger back toward the 50-SMA), or a clean daily close back above 410.46 to flip momentum constructive. The bullish thesis weakens on a decisive daily close beneath the 200-SMA at 359.39, which would break the multi-month trend scaffolding and shift the regime.