AVGO Aug 24–28: The Bounce Has to Earn $380Broadcom Inc.NASDAQ:AVGOBullBearInsights# AVGO is trying to stop the bleeding. That is probably the simplest way I can describe this chart going into the week of August 24–28. The stock was trading above $430 less than two weeks ago. Then the structure gave way, selling accelerated, and AVGO dropped all the way into the upper $350s. Now it is sitting around **$369**. There is a bounce developing, but I don't think this is the kind of chart where a couple of green candles automatically mean the bottom is in. The damage above price is still very visible. On the daily chart, AVGO is trading underneath the descending trendline that comes through roughly the **$380 to $385 area**. That matters to me much more than whether the stock opens Monday at $367, $369 or $371. Until AVGO starts reclaiming some of that broken structure, this is still a stock recovering from a sharp selloff. The 4-hour chart tells the same story. AVGO peaked near **$432.73**, then sold off almost continuously until reaching approximately **$357.61**. Since then, price has stopped falling and started building around the low $360s. That is the first positive development. The second is momentum. The 4-hour RSI is around **30**, after being much more oversold during the decline. It is starting to turn higher. That doesn't make AVGO bullish. It tells me the selling may finally be losing some force. There is a big difference between those two things. What makes this setup worth watching is the amount of GEX positioning sitting immediately above current price. I have levels around **$370, $372.50, $375, $377.50 and $380**. Then the next meaningful areas show up around **$385 and $392.50**. So AVGO doesn't have much empty space in front of it. Every few dollars, there is another place where price may have to prove itself. The first battle is already happening around **$370**. If AVGO cannot even hold above $370, I don't see much reason to get excited about the bounce yet. If buyers can establish price above $370, then $375 becomes the next place I would watch. But for me, the real number is **$380**. That is where the options positioning and the technical chart begin telling a similar story. AVGO needs to get through that area before I start treating this as more than an oversold bounce. A move into $380 that gets immediately rejected would make sense. A move through $380 that holds is different. If AVGO can reclaim $380 and stay there, I would start watching **$385**. Above $385, the chart begins to look noticeably better. At that point, **$392.50** becomes realistic, and $400 starts coming back into the discussion. But I wouldn't jump straight to $400 from where AVGO is trading now. There is too much resistance between here and there. The downside is actually easier for me to read. The recent low around **$357.50** matters. There are also GEX levels around **$365, $360 and $357.50**, which means the stock is sitting inside a fairly important short-term support area right now. As long as AVGO keeps defending the upper $350s, buyers still have a chance to build something. If $357.50 breaks, I would stop calling this stabilization. Then I start looking lower. The next major level on the GEX map is around **$345**. That is far enough away that I wouldn't assume AVGO goes there automatically, but it becomes much more relevant if the recent low fails. One other thing caught my attention in the GEX panel. The gamma environment is currently showing negative. That matters because negative gamma conditions can make price movement less stable. When the stock starts moving, dealer hedging can sometimes add to the move rather than absorb it. For a stock that has already fallen from $432 to $357 in a short period of time, I don't think that is something traders should ignore. It means I would be careful about assuming every level will behave like a brick wall. AVGO could move through these areas faster than expected if momentum returns. So I am approaching this week with a fairly simple idea. I don't need to guess whether $357 was the exact bottom. I want AVGO to show me that buyers can actually take territory back. Holding the mid-$360s is the first step. Getting through $375 would improve things. But **$380 is where the bounce starts earning my attention**. Above $385, I become much more interested in the recovery. Below $357.50, I start questioning whether the selling ever really ended. AVGO has already shown us what sellers can do. This week I want to see whether buyers can do more than just stop them.