Stock Markets Analysis and Opinion
Marvell Technology Could Break Above Resistance
2022.06.08 12:26
When we look at the Marvell Technology (NASDAQ:MRVL) chart, we can see the fall from the $59 range on Jun. 2 to the $56.5 level on Jun. 3 forming support and then rebounding strongly to the $62 range. However, unable to sustain the rally, it retracted to the $60 range during June 6th session.
During yesterday’s session, it fell momentarily to the $58.5 range, where it found temporary support, and then moved higher and closed the day in the $61 range, where it was last found trading. Today we can expect a move above the $62 overhead resistance level. If, however, it doesn’t manage to hold on to the current level, then a move towards the $56.5 level can be expected.
Marvell Technology stock chart.
