Chart of the Day: Marvell Arrives at Critical 'Decision Point'

Recent action in Marvell Technology MRVL is encouraging as the company was recently downbeat during its latest investor day disaster when they postponed the session. On June 17 they will host a webinar unveiling new AI initiatives and take Q/A. Of course, that is after earnings are out (5/29) for the prior quarter.

On the day of the investor day postponement the company cited challenges from the global trade situation, tariffs and economic growth slowdown. But since then the stock has made some positive strides and is now right at strong resistance.

Does that mean the stock won't work here with the $65 area capping recent activity? It depends of course on the guidance; the company narrowed the range of their revenue guidance. As one would expect, sellers hit the stock hard on the postponement but buyers have been coming back to the name and now it appears there's a decision point right at this current level ($65).

Price action has been constructive, as the candles are back to blue, which reflects bullish on the GoNoGo composite of indicators. MACD (moving average convergence divergence) has improved as well, but the 100-day and 200-day moving averages are well above current levels, so that resistance is out there (around $80).

Money flow is back in the positive while stochastics (momentum) is improved, and the parabolic SAR (stop and reverse) is bullish (top pane, dots on the chart).

We'll wait to see if a move above $65 is real (confirmed, too) after earnings.

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We like Marvell in TheStreet Pro Portfolio and rate it a One, or "buy at anytime."