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SmarTrend Watching for Potential Rebound in Shares of Marvell Tech Grp After 5.42% Loss

By Shiri Gupta

Marvell Tech Grp (NASDAQ:MRVL) traded in a range yesterday that spanned from a low of $22.93 to a high of $24.54. Yesterday, the shares fell 5.4%, which took the trading range below the 3-day low of $23.61 on volume of 11.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Marvell Tech Grp on August 25th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $17.04. Since that recommendation, shares of Marvell Tech Grp have risen 43.0%. We continue to monitor MRVL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Marvell Tech Grp has traded in a range of $9.05 to $25.18 and is now at $23.02, 154% above that low. The 200-day and 50-day moving averages have moved 0.64% lower and 0.24% higher over the past week, respectively.

Keywords: rebounders marvell tech grp

Ticker(s): MRVL