I noticed negative divergence with money flow index as yesterday candle was large red bearish candle but MFI going up which indicate that some liquidation happened yesterday suggesting deep down trend ..
Its educational idea as its clear bearish trend and selling getting more pressure to visit support at 21 or below so we will try new style of ideas by taking Put options after breaking down 24 again then signal will be confirmed and point of profit taking will be 21 lets see this exercise hows its goes..
Everything was going lovely for a few weeks and then they dreaded tweets started to resurface and the temper tantrums have had quite an adverse effects on NASDAQ:MRVL.
Loves the stock previously but it is so sensitive to Mr Trump's tweets I can't touch it.
COMPANY PROFILE
Marvell Technology Group Ltd. engages in the design, development, and sale of integrated...
Over the next several years, 5G technology will be rolling out across the world. Marvell is key to these upgrades and this will be a base for part of my long term portfolio.
MRVL looks like its about to breakdown from its current levels. It has formed a diagonal double top pattern. In the last 3 daily candles it has formed a bearish harmani and a bearish engulfing back to back days. The next level or resistances are at the target levels stated on chart. I will only want to hold this for two weeks max due to earnings release coming up.
MRVL is completing its round up pattern within its handle formation in "Cup and Handle" pattern on daily chart. This is a potential breakout as it has tested this resistance 4+ times. I believe it will reach old time highs of $25.75 as it completes its handle in its round up pattern. At this level there could be more room for a bigger breakout to the $27-28 level.
*****Update******* Our trade has worked out perfectly in MRVL, so we have taken profits and will wait for reentry once the SMH has found some stability. Despite the lovely gains in the last few weeks call buyers have been very active, loading up on calls with a $28 strike. We do find this as a compelling reason to stay long but discipline dictates that profits...
Marvell like its peers had a torrid 2018, that has now reversed and optimism has grown over the growth of its networking division and the opportunities that the 5G roll-out will provide to revenue. It is sound company with a good balance sheet and has a reasonable P/E ratio. Large call buying lately has also make this a even more interesting stock. $25 is our target price.
Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution. Its product portfolio includes devices for storage, networking and connectivity. In storage, it is engaged in data storage controller solutions spanning consumer, mobile, desktop and enterprise markets. Its storage solutions enable customers to engineer products for hard disk drives and solid state drives. Its networking products address end markets in cloud, enterprise, small and medium business and service provider networks. The Company's connectivity products address end markets in consumer, enterprise, desktop, service provider networks and automotive.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
MRVL
