Trading Idea: - Is Marvell close to Resistance?

New York, February 6th (TradersHuddle.com) - Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) are trading very close to calculated resistance at $9.60. The stock ended the trading session at just $9.46, which is near levels that make it difficult to buy or start a position.

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 range is defined by its calculated support defined at $6.98 and by the resistance level at $9.60; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.

Traders don't have a clear entry point for Marvell. However, as the stock pulls back towards $6.98 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $9.60 then traders will get an opportunity to enter the stock as it moves to a higher range.

Note - Automated Content Created By TradersHuddle's Technical Scanner




Related Partner Headlines

    Real Money Pro from TheStreet: Headlined by legendary hedge fund manager Doug Kass, our team of market technicians and professional traders hand you unique perspectives and breakthrough investment opportunities. Access this exciting service -- Real Money Pro -- FREE, right now!

    TradersHuddle Search

    Stock Search:


    Site Search:

    Loading

    Technical Scans

    Recent Trading Ideas

    Latest Partner Headlines

    Stock Market

    Loading
    Chart
    o Dow Jones 17,071.22 ▼41.93 (-0.25%)
    o S&P 500 1,977.80 ▼5.05 (-0.25%)
    o NASDAQ 4,505.85 ▼6.34 (-0.14%)
    INDEXDJX:.DJI

    Dow Jones

    Company ID [INDEXDJX:.DJI] Last trade:17,071.22 Trade time:4:31PM EDT Value change:▼41.93 (-0.25%)
    INDEXSP:.INX

    S&P 500

    Company ID [INDEXSP:.INX] Last trade:1,977.80 Trade time:4:31PM EDT Value change:▼5.05 (-0.25%)
    INDEXNASDAQ:.IXIC

    NASDAQ

    Company ID [INDEXNASDAQ:.IXIC] Last trade:4,505.85 Trade time:5:15PM EDT Value change:▼6.34 (-0.14%)

    In The Wires

    Copyright © 2013 TradersHuddle.com. All Rights Reserved.