MRVL - Reverse H&S - MacD good - RSI great - easy trade or long
Hello! - This is a textbook chart for the bulls.
1) Notice the perfect reverse head and shoulders forming in order to test the 28$ highs in the coming month.
2) Notice the MACD signaling a strong buy with the RSI signaling there is more room to run until overbought. - Good volume too.
3) Notice the overall trend in both MRVL and the SnP 500 - there are similar moves only exemplified with the market.
4) semiconductor stock post china phase 1 trade deal and pre 5G phones has major tailwinds and in my opinion - these tailwinds will push mrvl above the $28 price resistance in the next couple months (by March 2020) and once we close above 28 for a couple of trading sessions - we are off to the races.
--I am long mrvl and I expect this stock to double (only 18b market cap now) by the end of 2021
1) Notice the perfect reverse head and shoulders forming in order to test the 28$ highs in the coming month.
2) Notice the MACD signaling a strong buy with the RSI signaling there is more room to run until overbought. - Good volume too.
3) Notice the overall trend in both MRVL and the SnP 500 - there are similar moves only exemplified with the market.
4) semiconductor stock post china phase 1 trade deal and pre 5G phones has major tailwinds and in my opinion - these tailwinds will push mrvl above the $28 price resistance in the next couple months (by March 2020) and once we close above 28 for a couple of trading sessions - we are off to the races.
--I am long mrvl and I expect this stock to double (only 18b market cap now) by the end of 2021
