Short term view - MARVELL TECHNOLOGY GROUP LTD : The major support has been reached, it causes the bounce.
The trend remains neutral. Prices will have to break above the peak at $22.700 for the trend to be positive again with an invalidation level below $19.700.Arguments :
- The major support has been reached, it causes the bounce.
- Prices are breaking above the moving average.
- The reaction at the resistance is weak, we anticipate its break soon.
Marvell Technology Group is a semiconductor provider of application-specific products. The company is focused on the development of System-on-a-Chip devices, utilizing its technology portfolio of intellectual property in the areas of analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. The company develops integrated hardware platforms along with software that incorporates digital computing technologies. In storage, the company is engaged in fibre channel products and data storage controller solutions spanning cloud, enterprise, edge and personal computing markets. The company's networking products include ethernet solutions, embedded processors and WiFi connectivity solutions.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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