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Marvell Technology Group Ltd. Message Board

  • stockineer stockineer May 12, 2013 11:58 PM Flag


    This stock just popped up on my radar. There is a nice potential breakout of consolidation developing that drew my attention. The confirmation would be a close above $11 as that is the main resistance right now. It’s too bad I missed the double bottom pattern. It has predicted a perfect price move to $11, which is where the price stands now, struggling to exceed. We still have a chance based on a breakout from $11. If it happens we could expect the price to move in $2 increments (based on the double bottom) or $1.50 (based on the consolidation region). We may find $11 to offer staunch resistance and may have to wait, or even add shares near the lower end of this trading range. Time will tell, but keep it on the radar screen.

    I've put up the chart and discussion on Stockineer if you are interested in the technical chart, but I've copied and pasted the quick summary here. Good luck, I'll be patiently waiting for the breakout.

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