0ACJ trade ideas
Marvell Technologies Is Pulling BackMarvell Technologies has been one of the better-performing chip stocks this year. It’s up 52 percent in 2020, while the Philadelphia Semiconductor Index has gained just 28 percent.
MRVL broke out in May, well before most others. It spent the next four months in a long consolidation pattern, grinding higher but not really breaking out. That is, until ripping through a falling trend line on September 28. The stock proceeded to run almost 20 percent before losing momentum. It’s now pulling back and may provide an entry in the next week or so.
The key area to watch could be roughly $38.70 - $39. That’s important because it’s roughly the location of the 50-day simple moving average (SMA).
It was also an intraday high several times September 18-23. MRVL then bounced near that level on September 30, immediately after breaking out. Old resistance became new support. Here's the hourly:
Beneath that, $37 could be important. That was the high in early June and a low as late as September 24.
Fundamentally, the story focuses on 5G networking and cloud computing. MRVL’s next set of numbers are due in early December.
Again, short-term momentum looks bearish. But now could be the time to start setting alerts and planning.
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MRVL - Can it go higher?Marvell is sitting right around its previous all time highs. There is clear MACD and RSI divergence on the daily chart. A bearish engulfing candle on July 13th looks like we may have a selloff here pretty soon OR this was just consolidation. Hard to tell right now but momentum looks weak so I will be looking for a break to the downside OR upside.
Disclaimer: This is not financial advice. Do your own research and trade wisely. Good Luck!
$MRVL Pennant Breakout Long$MRVL Pennant Breakout Long
$MRVL displayed a strong reversal on August 21st & 22nd which saw it retake its channel/large bull flag that began early June. After retaking its channel last week of August, $MRVL made new highs at $41.34 and since then has consolidated in a large pennant structure. I am looking for a complete retracement of the structure to retest previous highs and ultimately make new highs.
On 5min time frame I am looking for breakout above $38 which is recent trend line resistance
BTO $MRVL 10/2 $39c avg $.40
A MARVELL-OUS Setup in MRVLGet ready for Captain MRVL (Marvell Technology Group) to power your 5G future. With the launch of their OCTEON 5G infrastructure processors and already in production to deliver to the top 5G infrastructure providers globally, MRVL is set to fly.
Check out the breakout from the All-Time High (ATH) with volume. The BULLS are in on this one, are you?!
This is a developing story...
013. PIGGISH PLAY - Long MRVL - Until Inevitable Market CrashAm I a fully-grown pig-bear at this point?
Yes.
Do I still need to make a living?
Also yes.
How do I reconcile this internal contradiction?
Long MRVL off of strong earnings and a very clear wave count on the hourly.
It's an easy play and I really like this company. So why not give it a whirl?
Better than twiddling your thumbs while waiting for the inevitable.
- Patient Pig
NASDAQ:MRVL
NASDAQ:NDX
$MRVL Marvell Tech Long Into Earnings
MRVL long trade into earnings.
Potential targets
$37.00 Fibonacci Golden Pocket
$39.00 Previous resistance
MRVL carries risk as it is reporting when the SMH is getting extended.
Indicators bullish with room to run.
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$MRVL Marvell Tech $40.00 Target
Marvel getting close to hitting its Inverse H&S target @ $40.00
5g companies have been on a tear recently and maybe MRVL has some catching up to do.
MACD in Bullish Reversal from Zero-line
Histogram ticking higher.
Stochastic Reversed.
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