Trading Idea - Marvell Broke Resistance, What to Expect?

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Trading Idea - Marvell Broke Resistance, What to Expect?

Published on Monday, 06 February 2012 09:28 Written by TradersHuddle Staff

New York, February 6th (TradersHuddle.com) - Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) closed the trading session at $16.64 just above calculated resistance at $16.29 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

Marvell Technology Group Ltd. (NASDAQ:MRVL) designs, develops, and markets integrated circuits for communications-related markets. The Company offers products that provide the interface between analog signals and the digital information used in computing and communications systems.

Marvell's stock was trading in a well defined range with support at $15.23 and resistance at $16.29, given that this range was broken traders will be closely monitoring the stock

Marvell Has The Value, But What About Market Positioning? - Investopedia
UPDATE: Citigroup Cuts PT to $18 on Marvell Technology Group; Lower Market Multiples - Benzinga
Benzinga's Top Pre-Market Gainers - Benzinga
Marvell Technology Announces Initiation of a Quarterly Dividend; increases Share Repurchase Authorization by $500M to a total of $2.5B - Benzinga
Marvell Technology Group Ltd. Stock Downgraded (MRVL) - TheStreet.com
Marvell Technology Group Ltd. (MRVL): Today's Featured Technology Winner - TheStreet.com
Marvell Technology Group Ltd. (MRVL): Today's Featured Electronics Loser - TheStreet.com
UPDATE: Deutsche Bank Raises PT to $20 on Marvell Technology - Benzinga
UPDATE: Citigroup Raises PT to $19 on Marvell Technology Group - Benzinga
The Benchmark Company Downgrades Marvell Technology Group from Buy to Hold - Benzinga

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