Broadcom Suffers Major Damage

Shares of Broadcom (AVGO) - Get Report are off 3% at midday with the help of a big jump in volume. This news-inspired breakdown has pushed the stock well below key support, leaving behind a huge amount of supply. With this overhead pressure in place, along with a clear take out of the 50-day moving average, AVGO is in danger of a much deeper pullback.

Read The Full Story Here: Broadcom Suffers Major Damage, so Wait for the All-Clear

This article was written by a staff member of TheStreet.