Broadcom Inc

AVGO remains in a Stage 3 distribution phase with price failing to make new highs and forming lower highs on each rally. The medium-term bias is bearish under distribution dynamics, but short-term timing is neutral as price is oversold near 200-day support. Execution should be deferred until shallow rallies into the 9-day, 21-day, or 50-day EMA zones, where a rejection aligns with the Momentum + EPS strategy.

• ↑Q2 non-GAAP EPS $2.44; revenue grew 48% YoY to $22.19B
• ↑AI chip revenue hit $10.8B, up 143% YoY
• ↓Negative earnings yield and high P/E suggest valuation stretch