Could Marvell Technology (MRVL Stock) drop towards the 44 level?

AAATrade Team AAATrade

Hello Traders and welcome to AAATrade’s Intraday Technical Analysis session.

Today’s instrument is the Marvell Technology Group Ltd‘s stock traded in Nasdaq exchange under the ticker MRVL.

Looking at the MRVL‘s chart, we can see that it was lastly traded at around $46.20.

Last night it announced its quarterly earnings where EPS were in line with the estimation, with only the revenue slightly beating the forecast. Having already been traded at a higher price due to positive market’s anticipation, today we should expect a correction below its support level which is located at around $44.

Thank you for reading AAATrade’s Intraday Technical Analysis.

From all of us here, we wish you successful and responsible trading.

Author

AAATrade Team

AAATrade

The AAATrade Team has extensive experience in content writing for the financial industry. Stelios Nikolaou is the lead writer of the team, he currently works at AAATrade to provide research and content writing services.

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