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Tue, July 27 at 7:00PM ET
 
 
 
 

MRVL Chart Nothing Short of Extraordinary

MRVL Chart Nothing Short of Extraordinary

Marvell Technology Group (NASDAQ:MRVL) – This Bermuda-based company is a global provider of silicon solutions for data storage, communications and consumer markets. Storage requirements are increasing rapidly, and MRVL provides solutions primarily for hard-disk drives, tape, optical and solid-state drive markets. Its customers include Hitachi, Samsung, Seagate Technology (NASDAQ:STX), Toshiba and Western Digital (NYSE:WDC).

Several analysts have had a target of over $20 on the stock, but the recent breakout on heavy volume through a solid resistance line at $16 with a golden cross is extraordinary and could be telling us that something unusual is happening.

MRVL was recently started at a “buy” by Canaccord Genuity, and Credit Suisse has an “outperform” on the stock with a target of $22. The trading target could be $20-plus.

Trade of the Day – Marvell Technology Group (NASDAQ:MRVL
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Trade of the Day Chart Key

 

 


Article printed from InvestorPlace Media, https://investorplace.com/2012/02/trade-of-the-day-marvell-technology-group-nasdaq-mrvl/.

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