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Marvell Technology Group Ltd. Message Board

  • smk_01_2002 smk_01_2002 May 13, 2014 5:32 PM Flag

    Bad day on chart

    it seems some news may have leaked or there are more shorts than buyers.

    the 20DMA broke the 50 DMA which is bearish.

    MRVL failed to rally back over 15.70 too

    only positive thing on chart is stock is oversold.

    it may come back with solid earning and guidance.

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    • smk,

      I noticed the very same concerns on the chart. MRVL closed just $.03 above the LOW for the day---not a good sign at all; on 94% MORE than normal daily volume. HIGHER volume on lower prices is a bad indicator

      "only positive thing on chart is stock is oversold."

      However, a stock can remain "oversold" for a v-e-r-y long time.

      There is some support in the $14.80 area---but not much. Regrettably, $14.33 is the low; if earnings AND guidance disappoint, this could be where MRVL may find support.

      If earnings AND guidance are above expectations MRVL could test the "double top" of February 21 and April 1st., around $16.

      Today's action would suggests that the MRVL smart money is betting lower prices before it goes higher.

 
MRVL
13.17+0.08(+0.61%)Sep 28 4:00 PMEDT