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After Yesterday's Decline of 2.57%, Marvell Tech Grp Offers Investors Better Value

By James Quinn

Marvell Tech Grp (NASDAQ:MRVL) traded in a range yesterday that spanned from a low of $16.18 to a high of $16.52. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $16.56 on volume of 3.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Marvell Tech Grp share prices have moved between a 52-week high of $25.18 and a 52-week low of $9.05 and are now trading 80% above that low price at $16.26 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.6% while the 200-day MA has slid 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Marvell Tech Grp on August 15th, 2018 by issuing a Downtrend alert when the shares were trading at $20.17. Since that call, shares of Marvell Tech Grp have fallen 17.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders marvell tech grp

Ticker(s): MRVL