MRVL Double Bottom Retest, Get ready for a week of profitIn MRVL accidently, but its setting up now so IM holding. Target ~$41.00
MRVL
$MRVL broke out consolidation box with good volume$MRVL is breaking out of its consolidation box. I got in long before the close today.
$MRVL on Long Bullish Trend + Future Growth Potential!Marvell Technology Group Ltd. (NASDAQ: MRVL), a leader in infrastructure semiconductor solutions showed a breakout on a long term bullish trend technically. At a current price of $32.98 per share, if we assess whether it is undervalued stock with future growth, its current EV/EBITDA (TTM) is 56 with FWD EV/EBITDA at 28.71 which is tempting to buy with bullish future outlook, especially 2021-2022 on Nokia and Marvell's partnership on Silicon Technology for 5G, Marvell's Collaboration with Foxconn-Ingrasys, Accton and KIOXIA to Accelerate End-to-End Ethernet Storage Adoption, Marvell and Samsung Partnership to drive Innovation in a New Generation of 5G Infrastructure Products (Long-term Collaboration Targets A Growing Ecosystem of 5G Applications). It is a Strong Buy recommendation and overall consensus based on 21 analysts for $MRVL in the last 3 months.
If you are interested to buy at a lower level, you may check the support level in the chart. I foresee a 3X potential growth of the stock!
Note: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
I Could've Risked Less And Made MORE! (what?) - 06/08/20 RECAPHi traders,
Starting the week in slight green, which is nice! However, in my (only) MRVL trade I played it "safe" again with distant SL and it actually cost me money! Had I had it closer, my target would've been also closer and I'd walked away with +2%! Anyways...
Trades:
1) MRVL - SHORT @35.19, +1.14%
*In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.*
Total PnL for the day: +1.14%
Total PnL for the week: +1.14%
Good trades,
Tom | FINEIGHT
MRVL - correction on the wayMRVL seems to have finished intermediate wave A of primary wave B. If this scenario holds, its price should fall between the range of 22 to 20, before moving up again ro finish primary wave B. If price crosses up 25.70, this scenario will be void. FOLLOW SKYLINEPRO TO GET UPDATES.
MRVL showing some positive signs - Bullish engulfing pattern (outside day)
- Bullish divergence (RSI)
- Bouncing on 200DMA
- Gap should provide additional support
