AVGO Faces Resistance as EMAs Turn Bearish
BearishBroadcom Inc (AVGO) closed down 0.78% at $349.39 on December 29.
Technical indicators paint a bearish picture:
Moving Averages
Price sits below both the 9-day ($350.13) and 21-day ($357.22) EMAs, suggesting short-term weakness.
Momentum
RSI at 48.2 is in neutral territory but trending higher. MACD is bearish (-6.06 vs signal -3.45).
Volatility
Bollinger Band width at 29.8% indicates normal volatility.
Key levels to watch: Support at $311.80, Resistance at $420.81.