MRVLD trade ideas
MRVL March 2024: A Fail TradeOn March 1, 24 I bought NASDAQ:MRVL (the purple arrow) as the stock broke out into its new 52-week high with relatively good volume after accumulation of nearly 2 months.
I then sold it on March 8, 24 as the stock down 11% after earnings.
It was a hard choice then because
I rarely sell something which is still above its own MA-10
Also, the stock is right at its MA-10, and just a little above the support.
I actually thought about waiting a little longer until the stock will go down the support to sell it. In that case I will lose an additional 4% which is also fine.
But I finally decided to sell for the following reasons.
It was among the first chip stocks sold down hard.
The volume on the down move was very strong, 2 times higher than the volume on break out.
MRVL Marvell Technology Options Ahead of EarningsIf you haven`t sold MRVL Marvell Technology before the previous earnings:
Then analyzing the options chain and the chart patterns of MRVL Marvell Technology prior to the earnings report this week,
I would consider purchasing the 72.5usd strike price in the money Calls with
an expiration date of 2024-3-15,
for a premium of approximately $8.30.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
MRVL has a melt-down trader reaction to mediocre earnings LONGMRVL on the 2H chart had been in a trend up since February 29th when it broke out of the
high volume area of the profile in a pre-earnings run . Earnings were reported and MRVL
more or less matched the analyst's forecasts. Price sold-off in the aftermath of trader
disappointment. I held a large position of both shares and options but sold off half of
the positions two days ago to capture some profits. I see MRVL as still above VWAP
and so in buying territory and now at a price level supported by the first upper anchored
VWAP line as well as the upper boundary of the high volume area. It is a strong stock which
I do not believe will make a full Fibonacci retracement. I will now add back into my
position half of what I sold a few days ago. and expect a bullish continuation. On a lower
time frame, I have guidance from the inside bars that price is printing in the after hours.
When regular trading arrives on Friday, I will buy call options for mid-April striking
$85 (OTM).
Marvell Technology Shares Drop On Weak Forecast Surged FridayIn the wake of Marvell Technology's ( NASDAQ:MRVL ) recent earnings report, investors find themselves at a crossroads, grappling with the reality of a weakened forecast and a sharp decline in stock value. The Santa Clara-based chipmaker, known for its contributions to cloud computing, automotive, and communications sectors, is facing turbulent times ahead, raising questions about its resilience and ability to navigate through the challenges.
The company's fiscal fourth-quarter earnings matched Wall Street's expectations, but its guidance for the upcoming quarter fell well below analysts' estimates. With adjusted earnings predicted at 23 cents a share on sales of $1.15 billion for the current quarter, Marvell's outlook has left investors disillusioned and uncertain about the company's trajectory.
Marvell's CEO, Matt Murphy, attributed the soft forecast to weakened demand across various sectors, including consumer electronics, carrier infrastructure, and enterprise networking. Despite the gloomy short-term outlook, Murphy remains cautiously optimistic, hinting at a potential recovery in the latter half of the fiscal year.
One bright spot amid the dim forecast is Marvell's ( NASDAQ:MRVL ) strong performance in the artificial intelligence (AI) segment. Murphy ( NASDAQ:MRVL ) highlighted AI-driven growth in the data center end-market, with revenue soaring 38% sequentially and 54% year over year. Marvell's strategic positioning as a key player in the AI infrastructure space could offer a glimmer of hope amidst the prevailing uncertainty.
However, challenges lie ahead, particularly in the face of intensifying competition and evolving market dynamics. As technological advancements continue to reshape the landscape, Marvell must adapt swiftly to stay ahead of the curve. The company's success hinges on its ability to innovate, diversify its product offerings, and capitalize on emerging opportunities.
In the aftermath of the earnings report, Marvell's ( NASDAQ:MRVL ) stock witnessed a sharp decline, shedding more than 5% in after-hours trading but shortly spiked with over 4.57%.
As Marvell Technology ( NASDAQ:MRVL ) navigates through choppy waters, investors are closely monitoring its strategic initiatives and execution capabilities. The company's ability to weather the storm and emerge stronger will ultimately determine its long-term success in an increasingly competitive landscape. With uncertainty looming large, the road ahead remains fraught with challenges, but for Marvell, the journey towards sustainable growth continues.
Is MRVL overextended ? SHORTMRVL on the 60 minute chart certainly had an impressive run for two days gaining 16%.
The chart however shows the bullish candles are decreasing in range and price is more than
two standard deviations above the mean VWAP and far outside the high volume area of
the volume profile. Bullish volatility fell to close the trading week on Friday afternoon.
My trade plan is to watch MRVL for consolidation and then a retracement of its bullish
move. A cross of the faster green RSI down under the slower red RSI will be the bearish
divergence to be seen to consider MRVL for a short trade.
MRVL Bounce From Covid LowsI have been tracking this company since October 2020's covid price low (retracement). The price fell back to $35 covid at the beginning of 2023 and formed the beginning of a large reversal signal by mid-year of 2023. Now, MRVL has given a new signal to go long.
Weekly:
Weekly MACD closed positive above the water line from November 13, 2023 and stayed positive. About, two months later, and this day on January 8, 2024, all the ichimoku lines are in place on the weekly chart this week for the first time since May 2022. The chikou span pierced above the cloud and there is a tenkan-kijun cross.
Daily:
Price retraced and chikou bounced from the cloud with price forming an engulfing pattern near or at 50ema, kijun, fib and average weekly range support. This also was a weekly BBT pullback on a daily chart. All things lining up made this a good trade to take.
I purchased on the pullback from 56 to 58. So, I am late to post. But, the price is right, and we have great room for error. I am aiming for 89 to 90.
MARVEL baby upIt sounds like you're describing a positive trend in the weekly and daily charts for a particular financial instrument. The price has successfully retraced, and you're currently above significant weekly and monthly levels. Given the upcoming holiday season, you anticipate a potential upward movement in prices. Your primary target is set at a historical weekly level. It's great to hear that you're finding opportunities and have a clear target in mind. Best of luck with your trading endeavors, and may the holiday season bring favorable market movements for you!
MRVL Marvell Technology Options Ahead of EarningsAnalyzing the options chain and the chart patterns of MRVL Marvell Technology prior to the earnings report this week,
I would consider purchasing the 57.50usd strike price Puts with
an expiration date of 2023-9-15,
for a premium of approximately $3.50.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
MRVL fell after earnings beat & recovery REVERSALMRVL a technology stock beholden to the ebbs and tides of both the general markets
and the leaders of the tech sector fell on a mild earnings beat this is to say traders were
disappointed and responded with a 16% sell off from the pre-earnings run up.
I see MRVL potentially suitable for a retracement of half of the 16%. On the 30- minute
chart using both pivots as well as near and intermediate volume profiles I have marked
out important levels upside from the current market. Accordinly, there are three targets
I will close 50% of the position at the first 30% at the second and the remaining 20% at the
third. I see this as an 8-10% overall profit in a swing trade of about a week duration. If
the tech sector recovers next week from this current week, the profit could well be higher.
MRVL approaching significant supportMarvell Technology Inc. (MRVL) presently approaching significant support, able to absorb weekly selling pressures.
From here, (MRVL) can gain strength and push higher to channel resistance, eliciting gains of ~20% over the following 2 - 3 months.
A weekly settlement above this channel resistance would lead to a long-term buy signal into Q4.
Inversely, a weekly settlement below channel support would signal losses of 20% - 30% over the following 3 - 5 months.
$MRVL Game Plan July 31st 2023 NASDAQ:MRVL Game Plan for July 31, 2023:
Marvell Technology's stock has been upgraded from a Buy Candidate to a Strong Buy Candidate after the last trading session. The stock price gained 1.60% on the previous trading day, rising from $63.89 to $64.91. It has been in a strong rising trend in the short term, and further rise is anticipated.
The short and long-term Moving Averages give positive signals for the stock, and there is a buy signal from the 3-month Moving Average Convergence Divergence (MACD). However, there are also some negative signals, including a recent sell signal issued from a pivot top point.
The stock is expected to rise approximately 62.47% over the next 3 months, with a 90% probability of holding a price between $102.06 and $112.51 at the end of this period.
Support for the stock lies at $63.40, and it may offer a buying opportunity if the support level is tested. The risk is considered medium due to average daily movements and good trading volume. The recommended stop-loss is $62.64 (-3.49%).
For the upcoming trading day on Monday, July 31st, the stock is expected to open at $64.86 and may move between $62.86 and $66.96 during the day. The estimated trading interval is +/- $2.05 (+/-3.16%) from the last closing price.
Insiders have been selling more shares than buying in Marvell Technology, which can be considered a negative signal.
Overall, Marvell Technology Group Ltd. stock is considered a Strong Buy candidate due to several positive signals and its position within a strong rising trend. The analysis suggests further gains over the next 3 months.
NOTES:
Additionally, it's important to keep a close eye on the TVC:DXY (U.S. Dollar Index) and Nikkei as they may impact Marvell Technology's stock performance. The ideal scenario for Marvell Technology would be a sideways or downward movement in the TVC:DXY and a sideways or upward movement in the Nikkei.
If the Nikkei experiences a significant decline, it's advisable to consider only short positions for Marvell Technology's stock if the TVC:DXY simultaneously shows a strong upward movement (rips).
The relationship between these key financial indicators can have an influence on Marvell Technology's stock price, so monitoring their movements can help inform trading decisions.
Marvell Could Be Fighting HigherMarvell Technology has squeezed in a tight range for two months, and now traders may see potential for continuation to the upside.
The first pattern on today’s chart is the bullish gap on May 26 after earnings, revenue and guidance beat estimates. The chip company also predicted quick growth in Artificial Intelligence (AI). MRVL proceeded to move sideways throughout June and most of July, causing Bollinger Bandwidth to narrow. That tight volatility squeeze may create the potential for prices to expand.
Next, there could be signs of that expansion starting with the stock challenging its recent closing high.
Third is the succession of higher weekly lows.
Finally, prices have remained above the 8- and 21-day exponential moving averages (EMAs). That may reflect a bullish short-term trend.
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$MRVL NASDAQ:MRVL
Insider Buying - Marvell Technology, Inc. (NASDAQ:MRVL) Stock Holdings Boosted by United Capital Management of KS Inc.- According to their recent 13F filing with the Securities & Exchange Commission, United Capital Management of KS Inc. increased their stake in Marvell Technology, Inc. (NASDAQ: MRVL - Free Report) by 6.2% during the 1st quarter. The institutional investor now holds 30,797 shares of the semiconductor company, acquiring an additional 1,790 shares during the quarter. At the end of the reporting period, United Capital Management of KS Inc.'s holdings in Marvell Technology were valued at $1,333,000.
$MRVL possible long here on breakout of Flag! On Friday, July 7th, 2023, the stock price of Marvell Technology experienced a gain of 0.561%. It started the day at $58.82 and closed at $59.15. Throughout the trading day, the stock fluctuated by 2.17%, reaching a low of $58.98 and a high of $60.26.
Analyzing the past 10 days, the stock price has fallen in 6 of those days. However, despite these fluctuations, it has managed to stay slightly positive with a 0.05% increase over the past 2 weeks.
During the last trading day, the volume of shares traded decreased by 1 million shares. In total, 9 million shares were bought and sold, amounting to approximately $528.72 million in transactions.
It is important to note that a decrease in volume accompanied by higher prices can indicate divergence and potentially signal forthcoming changes in the following days.