AVGO at $370: Earnings Breakout Week | Aug. 31–Sept. 4Broadcom Inc.NASDAQ:AVGOBullBearInsights AVGO closed Friday at $368.79 after bouncing from the $350 area. The bounce helped, but the daily chart has not turned bullish yet. The stock is still trading inside a wide declining structure after losing the August rally near $430. The $350–$355 area has become the most important daily support. Buyers defended it last week, and it needs to hold if this recovery is going to continue. The first real resistance is $375–$380. A daily close above $380 would improve the chart and open a move toward $405. That is the larger test. If AVGO eventually reclaims $405, the old $430 area comes back into play. The daily RSI has recovered to around 43 after getting close to oversold. That shows selling pressure has slowed, but RSI is still below 50. For now, this looks more like a recovery attempt than a confirmed reversal. If $350 fails, the chart becomes much weaker. There is not much support underneath until roughly $320–$315. 15-minute chart Friday’s intraday action gave us a tighter map. AVGO was rejected at $376.65, sold down to $365.35 and then spent the rest of the session rebuilding around $368–$369. The 15-minute RSI has moved back above its signal line, so short-term momentum is improving. The number controlling Monday is $370. A move above $370 by itself is not enough. I want to see AVGO reclaim $371.50, close above it on the 15-minute chart and hold that area on a retest. If that happens, I will watch $375 first, followed by $376.65 and $380. If AVGO reaches $370–$371.50 and gets rejected again, I will watch $368. Losing $368 puts $365.35 back in play. A clean break below $365 could send it toward $360 and possibly $355. I do not like trading it while it is stuck between $369 and $371.50. That area can produce a lot of back-and-forth movement without going anywhere. GEX map The gamma map is currently positive, with calls representing about 54% of the positioning. That can keep price controlled around the larger option levels until earnings forces traders to reposition. The closest gamma levels are $370, $372.50 and $375. The largest overhead concentration is sitting at $380, making it the main call wall for the week. Below the current price, I see support around $365. The $360 level is the high-volume area, and $355 carries the strongest put positioning. Those levels line up well with the price chart. The GEX map does not tell me which direction AVGO will move. It shows me where the larger fight is likely to happen. Right now, $370 looks like the pin. The upside is crowded between $375 and $380, while $360–$355 is the stronger downside support zone. This map will probably change quickly after Wednesday’s earnings. I will refresh it before trading Thursday because the current levels may no longer matter after the report. My day-trading plan For a long trade, I want a 15-minute close above $371.50 followed by a retest that holds. My first target would be $375, followed by $376.65 and $380. I would consider the setup failed if price loses $369 again after the breakout. For a short trade, I want to see AVGO reject $370–$371.50 and then break below $368. The downside targets would be $365.35, $360 and $355. I would consider that setup failed if price gets back above $370.50 and holds. Monday and Tuesday could remain choppy while traders wait for earnings. I would rather take a smaller confirmed move than keep buying options while AVGO sits near $370. I also would not hold short-dated options through Wednesday’s earnings unless I were completely prepared to lose the full premium. The gap and volatility crush can destroy a position even when the general direction is correct. Long-term investment view I still like Broadcom as a long-term AI infrastructure company. Its custom chips, networking business and VMware cash flow give it more than one source of growth. That does not mean every price is a good entry. For a new long-term position, I would rather build slowly than buy everything before earnings. The first area I would consider is $350–$360, but only if that zone survives the earnings reaction. A daily reclaim of $380 would be the next confirmation. A move back above $405 would show that the larger trend is beginning to repair. If AVGO clears $405 and later breaks $430, the long-term chart could work back toward the previous $480–$495 area. If it closes below $350 and cannot recover, I would wait. The next better buying area may develop closer to $320. My view for the week is straightforward: above $380, AVGO becomes a breakout trade. Below $360, sellers regain control. Between those levels, $370 remains the battleground. This is my chart plan for the week, not a recommendation to buy or sell.