Chart of the Day: A Look at the Other Key Chip Stock Posting Earnings This Week
Is this name's 'unloved' status about to change?
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With so much excitement and enthusiasm surrounding the semiconductor segment with AI, quantum computing and next-generation chips one would think a name like Marvell Technology (MRVL) would soar. After all, this is a company with a massive customer list, strong backlog and good-sized margins. But looking at the chart one is led to believe this stock is unloved. Perhaps that will change after this week, when the company will deliver earnings from their most-recently finished quarter.
The chart shows a very long base period for Marvell, and the range is tight from about $71-76. The prior base in the high $60s was exceeded but currently there is a very narrow range.
The indicators show Marvell is stymied here, money flow has started to decline while the ADX is near the bottom, indicating no trend currently. Moving average convergence divergence (MACD) is on a mild sell signal, while the stock is flirting with the 14-period McGinley Dynamic.
What do we do with Marvell?
We think the stock is poised for a break out soon. It may not be right after earnings but a shot higher would not be a surprise, and given Nvidia NVDA earnings come right in front, perhaps a pop above the top of the range would be ideal to get a new uptrend started.
We like Marvell in TheStreet Pro Portfolio and rate it a One, or "buy at anytime."
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At the time of publication, TheStreet Pro Portfolio was long MRVL.
