Marvell Technology Stock Forecast
Marvell Technology stock price ended on $43.30 on Friday after gaining 0.116%
(Updated on Mar 31, 2023)
The Marvell Technology stock price gained 0.116% on the last trading day (Friday, 31st Mar 2023), rising from $43.25 to $43.30. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.60% from a day low at $42.70 to a day high of $43.39. The price has risen in 7 of the last 10 days and is up by 8.33% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 9 million shares were bought and sold for approximately $377.24 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.43% during the next 3 months and, with a 90% probability hold a price between $39.72 and $52.38 at the end of this 3-month period.
MRVL Signals & Forecast
Mostly positive signals in the chart today. The Marvell Technology stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $42.04 and $42.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 15, 2023, and so far it has risen 15.10%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Marvell Technology stock
Marvell Technology finds support from accumulated volume at $43.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.685 between high and low, or 1.60%. For the last week, the stock has had daily average volatility of 2.83%.
Our recommended stop-loss: $41.95 (-3.12%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (MRVL) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Marvell Technology Group Ltd. to open at $43.13, and during the day (based on 14 day Average True Range), to move between $41.46 and $45.14, which gives a possible trading interval of +/-$1.84 (+/-4.25%) 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 8.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $43.15 (0.35%) than the resistance at $44.04 (1.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Marvell Technology Group Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Marvell Technology stock to perform well in the short-term.
Current score: 1.845 Open Broker Account
Buy Candidate UnchangedPredicted Opening Price for Marvell Technology Group Ltd. of Monday, April 3, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price April 3, 2023 | Current price |
|---|---|
| $43.13 | $43.30 (Overvalued) |
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Trading levels for MRVL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.81 | 1.19 % | |
| R2 | 43.55 | 0.581 % | ||
| R1 | 43.39 | 0.208 % | ||
| Current price: | 43.30 | |||
| Support | S1 | 42.87 | -1.00 % | |
| S2 | 42.71 | -1.37 % | ||
| S3 | 42.44 | -1.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.76 | 12.61 % | |
| R2 | 46.12 | 6.51 % | ||
| R1 | 44.04 | 1.71 % | ||
| Current price | 43.30 | |||
| Support | S1 | 43.15 | -0.346% | |
| S2 | 38.68 | -10.67% | ||
| S3 | 37.99 | -12.26% |
FAQ
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About Marvell Technology Group Ltd.
Marvell Technology, Inc., together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors. The company also provides a range ... MRVL Profile
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featured in The Global Fintech Index 2020 as the top Fintech company of the country.
