Marvell Technology's stock has been upgraded from a Buy Candidate to a Strong Buy Candidate after the last trading session. The stock price gained 1.60% on the previous trading day, rising from $63.89 to $64.91. It has been in a strong rising trend in the short term, and further rise is anticipated.
The short and long-term Moving Averages give positive signals for the stock, and there is a buy signal from the 3-month Moving Average Convergence Divergence (MACD). However, there are also some negative signals, including a recent sell signal issued from a pivot top point.
The stock is expected to rise approximately 62.47% over the next 3 months, with a 90% probability of holding a price between $102.06 and $112.51 at the end of this period.
Support for the stock lies at $63.40, and it may offer a buying opportunity if the support level is tested. The risk is considered medium due to average daily movements and good trading volume. The recommended stop-loss is $62.64 (-3.49%).
For the upcoming trading day on Monday, July 31st, the stock is expected to open at $64.86 and may move between $62.86 and $66.96 during the day. The estimated trading interval is +/- $2.05 (+/-3.16%) from the last closing price.
Insiders have been selling more shares than buying in Marvell Technology, which can be considered a negative signal.
Overall, Marvell Technology Group Ltd. stock is considered a Strong Buy candidate due to several positive signals and its position within a strong rising trend. The analysis suggests further gains over the next 3 months.
NOTES: Additionally, it's important to keep a close eye on the TVC:DXY (U.S. Dollar Index) and Nikkei as they may impact Marvell Technology's stock performance. The ideal scenario for Marvell Technology would be a sideways or downward movement in the TVC:DXY and a sideways or upward movement in the Nikkei.
If the Nikkei experiences a significant decline, it's advisable to consider only short positions for Marvell Technology's stock if the TVC:DXY simultaneously shows a strong upward movement (rips).
The relationship between these key financial indicators can have an influence on Marvell Technology's stock price, so monitoring their movements can help inform trading decisions.