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Look for Shares of Marvell Tech Grp to Potentially Rebound after Yesterday's 3.37% Sell Off

By Shiri Gupta

Marvell Tech Grp (NASDAQ:MRVL) traded in a range yesterday that spanned from a low of $20.89 to a high of $21.34. Yesterday, the shares fell 3.4%, which took the trading range below the 3-day low of $21.67 on volume of 3.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Marvell Tech Grp share prices have been bracketed by a low of $9.05 and a high of $25.18 and are now at $20.92, 131% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

SmarTrend is tracking the current trend status for Marvell Tech Grp and will alert subscribers who have MRVL in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders marvell tech grp

Ticker(s): MRVL