AVGO’s Head & Shoulders Showdown: Bounce or Break Ahead?

Alright, let’s zoom into Broadcom (AVGO) on this hourly chart! The stock’s been cruising in a solid uptrend since last August, making some nice gains along the way. But lately, it’s hit a bit of a speed bump, slipping into a corrective wave and forming a clean descending channel. Here’s where it gets juicy—AVGO just carved out a head and shoulders pattern right at the main uptrend line, which also lines up with the support of that descending channel, sitting around $191.40 as of March 13, 2025. That’s a double whammy of support! With the price chilling at this key spot, it’s looking pretty interesting for a potential consolidation or even a price reversal to the upside. The setup’s got some good vibes, so let’s keep an eye on it to see if the bulls step up to the plate!