MARVELL TECHNOLOGY
(MRVL-Nasdaq):
Technical Viewpoint: From a low
of $29.85 on Feb 28, 2002 prices
rallied, reaching a
high of $41.57
on Mar 8, 2002. A
decline saw prices pull back, reaching a
low of
$37.81 on Mar 15, 2002.
Another rally saw prices penetrate
resistance, closing 3/21/02
at $41.12. Technicals: MACD Index (MACD): A Buy Alert!
was given on Mar 4, 2002 when the solid line crossed the dotted line to the upside.
Support: Remains at $38.75. Resistance: Is at $42.18.
Point & Figure: Reversed to the upside on Mar 19, 2002. A P&F upside
reversal takes place at $38.00. Summary: Technical indicators have turned bullish. BUY! MARVELL TECHNOLOGY
(MRVL-Nasdaq) @ $41.38 Stop: Use a protective stop of $39.13.
MARVELL TECHNOLOGY is currently trading @ $41.12 plus $2.03 on Mar 21, 2002. Price Objective:
$57.00. Risk/Reward: $2.25 VS. $15.63. Today's Risk Reward Ratio: 7:1
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