Bearish Moving Average Cross by Marvell Technology (MRVL)
Marvell Technology (NASDAQ:MRVL) crossed under its 10-day moving average of $10.13 on a volume of 3.7 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, shares of Marvell Technology have traded between a low of $6.98 and a high of $16.86 and are now at $9.71, which is 39% above that low price. The 200-day and 50-day moving averages have moved 0.64% lower and 0.24% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Marvell Technology on February 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $9.49. Since that recommendation, shares of Marvell Technology have risen 8.1%. We continue to monitor MRVL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses marvell technology