Marvell Technology Inc (MRVL)

[Chart Reader]

MRVL chart update.

Don't get excited about MRVL getting up to the 12.00 level and simply look at where the stock closed.......11.55.

In some ways it is a positive at it closed above both the 20 and 50 day MA's and that is always something to take a look at. Nonetheless, at this juncture the 20 and 50 day MA's are not critical and don't necessarily mean much.

Nonetheless, the stock showed strength today and is close to the 11.68 level, on a daily closing basis, that would give a bit more strength to the stock.

Keep in mind that a close above the 11.68 level is NOT a buy signal and doesn't mean much more than to likely change the downtrend into a sideways trend. That could mean the stock may not fall to the $9 level that has been the objective but simply cause the stock to go sideways in a range between the mid 12's and the mid 10's..........nonetheless, that hasn't happened yet. I am simply giving you the possible scenarios and what they would mean.

Good Luck