Broadcom (NASDAQ: AVGO) could drop as much as $300 by the end of August 2026 if technical support fails, according to a shared analysis. TradingShot.
The bearish view, shared in a TradingView post on July 17, it comes as Broadcom property it ended the recent session at $370, well below its recent close of $495.
The analysis shows that AVGO is still under pressure after being rejected from its long-term uptrend on June 3, when a series of rallies failed to resume.
Technical analysis shows Broadcom is soon to face further resistance at the 50-day moving average (MA), a rate that has been challenging in recent weeks.
Although the stock continues to find support at its 200-day moving average, the trend remains intact.
Based on the outlook, the next big signal for traders will be if AVGO closes decisively below the 200 day moving average.
A break below this support could accelerate selling pressure and trigger a move to multi-month support between $285 and $300.
The expected trend line on the chart shows that such a decline could last until August, when the stock could reach the $300 area in late August or early September.
The target also corresponds to the weekly moving average of 100, which is known as an important part of the long-term support.
Momentum signals also support caution. Relative Strength Index (RSI) remains in neutral territory and has struggled to stabilize, indicating that consumers have yet to gain control of the trend.
The presentation of the charts differs from Broadcom’s business performance.
The semiconductor and the construction software giant reported revenue for the second quarter of 2026 of $22.19 billion, up 48% year-on-year.
AI semiconductor’s revenue rose 143% to $10.8 billion, while profit and loss exceeded expectations.
Broadcom continues to benefit from strong demand for AI accelerators, networking equipment, and its VMware software business.
These areas have helped the company become one of the biggest beneficiaries of AI tools.
