Marvell Technology Group Ltd Stock Code MRVL.NAS
There was a price correction which brought price below the cloud. However there was a swift recovery and price moved back above the cloud and in the previous session, price broke above a recent high. This created a Ichimoku reversal and a V-shaped price breakout with a price projection of $54.78. Conversion line and Base line had a bullish crossover in the previous session, hinting of a bullish trend ahead. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend. MACD has a bullish crossover and is pointing higher. If price can stay above $45, we are likely to see a rally to $54.78.
$54.75 Price Target
$39.30 Risk Management Stop
3 weeks Trade Duration