🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Marvell Technology Could Test Resistance

Published 12/02/2021, 08:46 AM
MRVL
-

If we look at the Marvell Technology Group (NASDAQ:MRVL) chart, we can see it was trading in a channel for the past week topping at $75 and basing at the $71.

On Dec. 1, it fell from $75 to $71 without any sign of a slowdown. So, the closest support level lies at $71, and the nearest overhead resistance is $72.

The company will release its third-quarter earnings results today. If earning expectations are surpassed, we could expect the price to move upwards, towards the $75 price range.

Today we could expect a move towards the resistance at $74 and beyond that, towards $75.

However, if it doesn’t manage to hold above the current price range, it could move below the $71 support level.

Marvell Technology stock weekly chart.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.