Marvell Could Be Fighting Higher
Marvell Technology has squeezed in a tight range for two months, and now traders may see potential for continuation to the upside.
The first pattern on today’s chart is the bullish gap on May 26 after earnings, revenue and guidance beat estimates. The chip company also predicted quick growth in Artificial Intelligence (AI). MRVL proceeded to move sideways throughout June and most of July, causing Bollinger Bandwidth to narrow. That tight volatility squeeze may create the potential for prices to expand.
Next, there could be signs of that expansion starting with the stock challenging its recent closing high.
Third is the succession of higher weekly lows.
Finally, prices have remained above the 8- and 21-day exponential moving averages (EMAs). That may reflect a bullish short-term trend.
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The first pattern on today’s chart is the bullish gap on May 26 after earnings, revenue and guidance beat estimates. The chip company also predicted quick growth in Artificial Intelligence (AI). MRVL proceeded to move sideways throughout June and most of July, causing Bollinger Bandwidth to narrow. That tight volatility squeeze may create the potential for prices to expand.
Next, there could be signs of that expansion starting with the stock challenging its recent closing high.
Third is the succession of higher weekly lows.
Finally, prices have remained above the 8- and 21-day exponential moving averages (EMAs). That may reflect a bullish short-term trend.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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