Marvell Tech (MRVL) looks bullish

Marvell (MRVL) bullish above 85 with potential to 99-100 and 123

MRVL has broken out above the 80 to 85 range. Holding these prior resistances as supports would make the case for additional upside toward 99-100 (100% extension target / measured move) and potentially toward 123 (161.8% extension and pattern count). A double bottom for MRVL relative to the S&P 500 reinforces this bullish outlook.

Chart 1: Marvell Technology (MRVL) (top) and relative to the S&P 500 (bottom)