AVGO — Measuring the downside from here.Broadcom Inc.BATS:AVGOclaykilgoThe chart is sitting on support, but the setup is getting heavy: My base case is lower first. $389–390 is the immediate line in the sand. Below that, $369 is the next major level and lines up with the 200-day. Lose $369 and $356 comes into play. The bigger problem is overhead supply: there’s a thick volume shelf from roughly $395–430, so any bounce has a lot of resistance to work through. RSI has rolled back below 50, momentum is fading, and price just rejected again from the low-$430s. Today’s -5.9% move on 29.5M volume adds weight to the bearish case. As long as AVGO stays below $400–412, I think the path of least resistance is toward $369. A clean break of the 200-day would open $356, with the major volume support around $337 below that. The bull case is simple: reclaim $412, then break $427–432. Until that happens, I’m leaning down.