AVGO is technically weak (discharge phase); needs to reclaim 200-day MA before bullish interest.

Then we have a pair of graphs that I consider to be in the discharge phase. Broadcom comes to mind. Break below a major Fibonacci support level, and break below the 200-day moving average.

Paul Tudor Jones famously said that nothing good happens below the 200-day mark. We have momentum that is clearly in the downward range, not exceeding 50 by much, and the stock has performed poorly. All moving averages are trending downwards.

Therefore, on a chart like this, a recovery of the 200-day level is a prerequisite before I get excited about it . Momentum is improving, so seeing the RSI cross above 50, and even above 60 on a breakout, would be fantastic.

Charts that are struggling are easy to spot, such as Tesla and Broadcom, which really fail to stay above their 200-day moving average, and those averages are sloping downwards.