$Marvell Technology(MRVL)$
Zone: $235.90 to $239.20
Invalidation: close under $230
Objectives: $247, then $257
The math: up 4.0% to the first objective and 8.2% to the second, against 3.2% risk on the invalidation, about 2.6 to 1 to the second.
Think of this one like a good chair that got knocked over in a crowded room. Marvell fell hard last week and closed Friday at $227.83, then buyers stepped in and lifted it about 4% on the day. That is a swing bounce off a washed out stretch, and what it means is simple: the sellers took their best swing and the stock is still standing above $230. If it can push through $247, the room toward $257 opens up in a hurry.
Watching $247 closely. It sat near today's high, so a close above it would suggest buyers mean business.
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