$Marvell Technology(MRVL)$ NOV

$Marvell Technology(MRVL)$ NOV20 245C is in play.

Zone: $235.90 to $239.20

Invalidation: close under $230

Objectives: $247, then $257

The math: up 4.0% to the first objective and 8.2% to the second, against 3.2% risk on the invalidation, about 2.6 to 1 to the second.

Think of this one like a good chair that got knocked over in a crowded room. Marvell fell hard last week and closed Friday at $227.83, then buyers stepped in and lifted it about 4% on the day. That is a swing bounce off a washed out stretch, and what it means is simple: the sellers took their best swing and the stock is still standing above $230. If it can push through $247, the room toward $257 opens up in a hurry.

Watching $247 closely. It sat near today's high, so a close above it would suggest buyers mean business.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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