CFD Trading – Buy Marvell Technology Group (MRVL.NAS) at $45.10. Stop at $39.30 and Target at $54.75.

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.

$45.10                Buy
$54.75                Price Target
$39.30                Risk Management Stop
3 weeks              Trade Duration

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