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Marvell Technology Scores Relative Strength Rating Upgrade

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On Tuesday, Marvell Technology ( MRVL ) reached an important technical milestone, seeing its Relative Strength ( RS ) Rating jump into the 90-plus percentile with an improvement to 91, up from 85 the day before.

[ibd-display-video id=2368044 width=50 float=left autostart=true] This exclusive rating from Investor's Business Daily identifies share price action with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.

Decades of market research shows that the best stocks tend to have an 80 or better RS Rating at the beginning of a new run.

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Marvell Technology has moved more than 5% past an 18.10 entry in a second-stage cup with handle , meaning it's now out of a proper buy zone. Look for the stock to offer a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.

The company showed 58% EPS growth last quarter. Revenue rose 1%. The company is expected to report its latest earnings and sales numbers on or around Nov. 17.

The company holds the No. 12 rank among its peers in the Electronics-Semiconductor Fabless industry group. Broadcom ( AVGO ), Monolithic Power Systems ( MPWR ) and Nvidia ( NVDA ) are among the top 5 highly rated stocks within the group.

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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 Nasdaq, Inc.


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

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