MRVL trade ideas
MRVL is ready to test a new high, bullish on lockdown newsMarvel is in a rising wedge and has had a healthy uptrend. We can thank DIS for the strong upside. We also can't ignore recent stay at home orders and the unfortunate outlook of a possible 2nd wave covid shutdown in the U.S. More people at home, more people looking for new content to watch. Oh and did we forget DIS announced that movies under it's brand will be released straight to streaming services?
MRVL has to choose a direction very soon. Recent chop has shown it likes the .618 fib making it new support. With higher lows and bullish engulfing on the daily, it's on high alert.
Daytrade: Long MRVL target: $48.10Hi fellows, just one of my today daytrades:
------------------------Trade setup ---------------------------
Entry: 46.98
Stop Loss: 46.74
Profit target: 48.10
Time stop: Exit at market close
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Where Is MRVL Not Going?I love this stock. In fact, it was one of our stocks of week. We write these every Sunday to highlight a new stock with great potential for long term holders. So, since I love this stock I don't mind owning it. I sold a short put 45 days out by identifying where price would not go. That is at the $38 level. If does make it there and the option is assigned then I own a great company + premium paid at a discount. :)
The idea here is identify the major trend and as long as price is respecting that trend we sell puts below the support.
Article here : optionsinformants.com
MRVL - November 29, 2020Marvell Technology is a Bermudan-domiciled semiconductor company that has highly anticipated earnings on Dec. 3rd where they're expected to see a healthy increase in Revenue and EPS. Founded in 1995, the company now has more than 6,000 employees and 10,000 patents worldwide and annual revenue of $2.9 billion. With recent consensus from analysts increasing the price target from where it currently sits at $43 to $48 (Craig Hallum)-$55(KeyBanc). Out of 28 analysts, 21 deeming the stock a Buy.
$MRVL Back On Watch ListBack on the watch list. On Oct 22 I had it on and by Oct 29 it had broken down so much I thought the chart was broken and needed time to heal... here we are just about 2 weeks later and it looks strong. I do however, think it's too extended from it's lows to take a position here. I'll set an alert at $40 and look to open a position around there once it turns back up... all TBD. Ideas, not investing / trading advice.
Long trade idea: Entry points for MRVLDon't let FOMO hit you in the face on this stock.
Long channel trends show the following support levels:
BUY LIMIT @$40.30 if you think the breakout will hold, even though the tech stock run looks like its running on fumes
BUY LIMIT @$30.80 excellent price for a long position, as this company looks to have a good future perspective.
I would recommend 30% investment in the first buy limit, and 70% investment at the second, as the company is a steal for that price.
What are your thoughts?