Marvell Technology Stock Forecast
Marvell Technology stock downgraded to Sell Candidate
(Updated on Apr 19, 2024)
The Marvell Technology stock price fell by -4.77% on the last day (Friday, 19th Apr 2024) from $65.24 to $62.13. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 6.10% from a day low at $61.94 to a day high of $65.72. The price has fallen in 7 of the last 10 days and is down by -14.48% for this period. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 15 million shares were bought and sold for approximately $923.59 million.
Given the current horizontal trend, you can expect Marvell Technology stock with a 90% probability to be traded between $62.41 and $85.66 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MRVL Signals & Forecast
There are few to no technical positive signals at the moment. The Marvell Technology stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $67.39 and $70.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -26.98%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Marvell Technology stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.78 between high and low, or 6.10%. For the last week, the stock has had daily average volatility of 4.51%.
Marvell Technology is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MRVL) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Marvell Technology Group Ltd. to open at $63.26, and during the day (based on 14 day Average True Range), to move between $59.03 and $65.23, which gives a possible trading interval of +/-$3.10 (+/-5.00%) up or down from last closing price. If Marvell Technology Group Ltd. takes out the full calculated possible swing range there will be an estimated 9.99% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $66.87, some $4.74 (7.63%) from the current price of $62.13, our system finds the risk reward not very attractive.
Is Marvell Technology Group Ltd. stock A Buy?
Marvell Technology holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.523 Sell Candidate Downgraded
Predicted Opening Price for Marvell Technology Group Ltd. of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$63.26 ( 1.82%) | $62.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRVL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 67.04 | 7.91 % | |
R2 | 65.60 | 5.58 % | ||
R1 | 64.71 | 4.15 % | ||
Current price: | 62.13 | |||
Support | S1 | 61.82 | -0.500 % | |
S2 | 60.93 | -1.94 % | ||
S3 | 59.48 | -4.26 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 75.42 | 21.39 % | |
R2 | 68.83 | 10.78 % | ||
R1 | 66.87 | 7.63 % | ||
Current price | 62.13 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
MRVL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 11, 2024 | Apr 11, 2024 | May 01, 2024 | $0.0600 | 0.0966% |
2 | Dec 08, 2023 | Jan 05, 2024 | Jan 31, 2024 | $0.0600 | 0.0886% |
3 | Dec 07, 2023 | Jan 04, 2024 | Jan 31, 2024 | $0.0600 | 0.0886% |
4 | Sep 15, 2023 | Oct 05, 2023 | Oct 25, 2023 | $0.0600 | 0.126% |
5 | Jun 15, 2023 | Jul 06, 2023 | Jul 26, 2023 | $0.0600 | 0.0942% |
FAQ
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