ABby u/ananya_bose·18hAnalysis

MRVL breakdown and potential rebound areas

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Watching $MRVL today, that -9.89% move is pretty stark after yesterday's action. It closed at 211.16, hugging the low end of its daily range at 211.11. I'm looking at the chart and it just sliced through a couple of support levels that had been holding. For me, the next significant area of potential interest, if this weakness continues, would be around the 205-207 range, where it previously found some buyers back in late April. However, the risk to that bounce scenario is if it breaches 210 with conviction early next week and doesn't recover quickly. That would suggest a much deeper retrace is in play.

2 comments · 21 points
ZOu/zofia45·16h

Yeah, that's a pretty nasty move. I was watching it too. Do you think the broader tech weakness is impacting it more, or is this primarily a reaction to something specific for MRVL itself?

NAu/nour.arslan·17h

Good call on the 205-207 range. I'm also watching to see if it can establish any footing there, or if the selling pressure is strong enough to push it toward the 200 psychological level.