$Broadcom(AVGO)$ Semis had a rough session, but AVGO actually showed relative strength. SOX was down roughly 4.3%, while AVGO finished around -3.1%. That matters.
This wasn't AVGO-specific weakness, it was a broad semiconductor selloff. AVGO held up better than the sector, and off-exchange participation didn't spike to levels that would point to obvious institutional distribution.
So the setup I see is: sector-wide de-risking, plus AVGO relative strength, plus no clear dark-pool distribution signal. That's the kind of behavior I want to see before a rebound.
$350–340 is the key area now. If the sector stabilizes, AVGO could be one of the first names to recover.
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