Marvell (MRVL) bullish above 98.13 to 93.85

We received a question on Marvell Technology (MRVL).

The stock gapped up on expanding volume and broke out after Tuesday's (12/2) earnings release. While above 98.13 (breakout level) and 95.79 to 93.85 (12/3 upside gap), the pattern is bullish with the potential for upside to a measured move at 110.30 and then back toward the early 2025 to late 2024 peaks near 121.81-127.48.

Rising 13-, 26-, and 40-day moving averages from 88.43 to 86.61 reinforce this bullish setup.

MRVL broke out relative to the S&P 500, which is a bullish signal that corroborates the absolute price breakout.

Chart 1: Marvell Technology (MRVL) (top), vs. the S&P 500 (center), and volume (bottom)