Trend Tracker for Marvell Technology MRVL – Stock Traders Daily

November 01, 2021, 05:00 am ET, BY Thomas Y. – Contributor | Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Source: Stock Traders Daily
The technical summary data tells us to buy MRVL near 63.88, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 63.7 to protect against excessive loss in case the stock begins to move against the trade. 63.88 is the first level of support below 68.5, and by rule, any test of support is a buy signal. In this case, if support 63.88 is being tested, a buy signal would exist.
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.
If 69.52 begins to break higher, the technical summary data tells us to buy MRVL just over 69.52, with an upside target of n/a. The data also tells us to set a stop loss @ 69.32 in case the stock turns against the trade. 69.52 is the first level of resistance above 68.5, and by rule, any break above resistance is a buy signal. In this case, 69.52, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
The technical summary data is suggesting a short of MRVL if it tests 69.52 with a downside target of 67.91. We should have a stop loss in place at 69.72 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 69.52, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
If 69.30 begins to break higher, the technical summary data tells us to buy MRVL just over 69.30, with an upside target of 69.52. The data also tells us to set a stop loss @ 69.14 in case the stock turns against the trade. 69.30 is the first level of resistance above 68.5, and by rule, any break above resistance is a buy signal. In this case, 69.30, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
The technical summary data is suggesting a short of MRVL if it tests 69.30 with a downside target of 68.21. We should have a stop loss in place at 69.46 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 69.30, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
MRVL Technical Summary | Raw Data for the Trading Plans
The data for Marvell Technology (NASDAQ: MRVL) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.
This is a static report, the data below was valid at the time of the publication, but support and resistance levels for MRVL change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.
Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  
The rules that govern the data in this report are the rules of Technical Analysis.  For example, if MRVL is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.
This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for MRVL too.  All of these are offered below the Summary Table.

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A rising tide lifts all boats, when the market declines it pressures stocks too, and we have learned that the easiest way to trade is to go with the flow, so the direction of the market matters to this and every decision.  We suggest an evaluation of the market first, a servivce we also provide, and once this determination has been made then use the data herein to determine whether your decision to buy or sell MRVL lines up with the forthcoming move in the market; we also offer a correlation tool to find stocks that are poised to move with the market.  Review our Current Market Analysis

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