Date: 20 August 2018
Science of Stock Price Action: When a Bullish stock Gaps up and creates a Bullish Base for quite some time, then it usually is creating a base for strong upmove in days and months to come.
Live Case Study: Marvell Technology Group Ltd MRVL
As you can see in the chart above – Marvell Tech MRVL stock has formed a bullish base for now about 10 months and that makes this base very attractive for strong upmove in days and weeks to come.
Fundamentally, the company makes most of its revenues by selling storage controllers for HDD and SSD. It is also a play on Internet of Things IoT [connected cars]. It means the company has a huge market opportunity to tap into. Please do your own research/due diligence before making any investment decision.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers