MARVELL TECHNOLOGY INC. - Daily - Technical analysis published on 02/29/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
61%
11%
28%
My opinion
Bullish above 65.79 USD
My targets
75.39 USD (+7.19%)
83.52 USD (+18.75%)
My analysis
MARVELL TECHNOLOGY INC. is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 65.79 USD. The next resistance located at 75.39 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 83.52 USD. After this resistance, buyers could then target 90.53 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The MARVELL TECHNOLOGY INC. price is 70.33 USD. On the day, this instrument gained +4.13% with the lowest point at 68.68 USD and the highest point at 70.45 USD. The deviation from the price is +2.40% for the low point and -0.17% for the high point.68.68
70.45
70.33
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by MARVELL TECHNOLOGY INC.:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of MARVELL TECHNOLOGY INC. indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
The technical indicators are bullish. There is still some doubt about the price increase.
Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Daily
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Near resistance of channel
Type : Bearish
Timeframe : Daily
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Abandoned baby morning star
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 53.67 | 57.04 | 65.79 | 70.33 | 71.02 | 75.39 | 90.53 |
Change (%) | -23.69% | -18.90% | -6.46% | - | +0.98% | +7.19% | +28.72% |
Change | -16.66 | -13.29 | -4.54 | - | +0.69 | +5.06 | +20.20 |
Level | Intermediate | Intermediate | Major | - | Major | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 65.90 | 66.57 | 67.05 | 67.72 | 68.20 | 68.87 | 69.35 |
Camarilla | 67.22 | 67.33 | 67.44 | 67.54 | 67.65 | 67.75 | 67.86 |
Woodie | 65.82 | 66.52 | 66.97 | 67.67 | 68.12 | 68.82 | 69.27 |
Fibonacci | 66.57 | 67.01 | 67.28 | 67.72 | 68.16 | 68.43 | 68.87 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 57.07 | 60.30 | 63.94 | 67.17 | 70.81 | 74.04 | 77.68 |
Camarilla | 65.69 | 66.32 | 66.95 | 67.58 | 68.21 | 68.84 | 69.47 |
Woodie | 57.28 | 60.40 | 64.15 | 67.27 | 71.02 | 74.14 | 77.89 |
Fibonacci | 60.30 | 62.92 | 64.55 | 67.17 | 69.79 | 71.42 | 74.04 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 39.81 | 47.72 | 57.71 | 65.62 | 75.61 | 83.52 | 93.51 |
Camarilla | 62.78 | 64.42 | 66.06 | 67.70 | 69.34 | 70.98 | 72.62 |
Woodie | 40.85 | 48.24 | 58.75 | 66.14 | 76.65 | 84.04 | 94.55 |
Fibonacci | 47.72 | 54.56 | 58.78 | 65.62 | 72.46 | 76.68 | 83.52 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
RSI (14): | 56.05 | |
MACD (12,26,9): | 0.7000 | |
Directional Movement: | 11.39 | |
AROON (14): | -50.00 | |
DEMA (21): | 69.11 | |
Parabolic SAR (0,02-0,02-0,2): | 63.83 | |
Elder Ray (13): | 1.30 | |
Super Trend (3,10): | 64.52 | |
Zig ZAG (10): | 70.09 | |
VORTEX (21): | 0.8900 | |
Stochastique (14,3,5): | 58.45 | |
TEMA (21): | 68.29 | |
Williams %R (14): | -27.31 | |
Chande Momentum Oscillator (20): | -0.22 | |
Repulse (5,40,3): | 0.3300 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.1700 | |
Courbe Coppock: | 0.99 |
MA7: | 68.36 | |
MA20: | 68.10 | |
MA50: | 65.72 | |
MA100: | 59.31 | |
MAexp7: | 68.58 | |
MAexp20: | 67.96 | |
MAexp50: | 65.40 | |
MAexp100: | 61.76 | |
Price / MA7: | +2.88% | |
Price / MA20: | +3.27% | |
Price / MA50: | +7.01% | |
Price / MA100: | +18.58% | |
Price / MAexp7: | +2.55% | |
Price / MAexp20: | +3.49% | |
Price / MAexp50: | +7.54% | |
Price / MAexp100: | +13.88% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The latest news and videos published on MARVELL TECHNOLOGY INC. at the time of the analysis were as follows:
- Thinking about trading options or stock in NVIDIA, Palantir Technologies, Super Micro Computer, EPAM Systems, or Marvell Technology?
- Thinking about trading options or stock in Alibaba Group, Okta, CleanSpark, Marvell Technology, or Southwest Airlines?
- Marvell Technology, Inc. Updates Conference Call Timing to Review Fourth Fiscal Quarter and Fiscal Year 2024 Financial Results
- Marvell Technology, Inc. Announces Conference Call to Review Fourth Fiscal Quarter and Fiscal Year 2024 Financial Results
- Thinking about buying stock in Evaxion Biotech, Macy's, Ford Motor, Marvell Technology, or Turnstone Biologics?
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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