Here’s Why Broadcom Inc. (AVGO) is Poised for a Turnaround After Losing -13.05% in 4 Weeks

Broadcom Inc. (AVGO) has been on a downward spiral lately with significant selling pressure. After declining 13.1% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.

We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold….