Set Your Sights on Marvell

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Marvell Technology Group ( MRVL ) -- This leader in integrated silicon solutions has been in an orderly bull channel since late last year.   

MRVL Chart  

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However, on Dec. 11, at $18.72, I said , "A huge quarterly earnings surprise on Dec. 4 brought in buyers who blasted the stock through a tough zone of technical resistance on a breakaway gap with high volume.

"This could be a volatile stock, so cautious investors may want to take a half position now and add on a pullback. The target for traders is $25."

Following our comment, MRVL rose to $21.76 before profit-taking took it below $18. Now at just under $20 and attracting buyers, Marvell again looks like it's in buying range with the target for a trade at $25. 

As with all speculative trading positions, it is wise to place a stop-loss order so that losses don't get out of hand.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Investing Ideas

Referenced Stocks: MRVL

Sam Collins

Sam Collins

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