MRVL - RSI Back Above 50, Eyes Fibonacci Targets at 99 and 112MRVL - CURRENT PRICE : 86.00 - 88.00
MRVL is showing early signs of bullish continuation after finding support near the 50-day EMA and rebounding with positive momentum. The price structure remains healthy as it trades above the EMA 50, suggesting the medium-term trend is still intact.
Key Technical Highlights :
1) Price Above EMA 50
The stock price is holding above the EMA 50, showing that the uptrend remains valid and buyers are still in control.
2) RSI Above 50 and Not Overbought
RSI has crossed back above the 50 level, confirming improving momentum while staying below overbought territory, leaving more room for upside.
3) MACD Structure
Although the MACD line is still below the signal line, both are positioned above the zero level, indicating the overall market tone remains positive with potential for a new bullish crossover.
Based on Fibonacci extension, potential upside targets are at :
1st Target: USD 99.00 (0.618 level)
2nd Target: USD 112.00 (1.000 level)
ENTRY PRICE : 86.00 - 89.00
FIRST TARGET : 99.00
SECOND TARGET : 112.00
SUPPORT : 80.50
