Chart Pattern.com

Daily Trading Alerts

Swing Trades.com

Stormchaser Techs

Marvell Technology Group (NASDAQ: MRVL) held its own after the post Fed policy meeting market sell off. That was...until yesterday. MRVL saw some very intense selling pressure as the trading session unwinded. The stock took a sharp decent in the middle of the day, creating a down trend line. MRVL traded under down trend line resistance, but was able to break out of the down trend 1 hour before the closing bell.

After MRVL broke through down trend line resistance, the resistance turned into support. The stock was still fairly weak, but the fact that it found support after the beating it took may prove that it will be able to push a bit higher tomorrow. A strong open will likely mean the stock will put in a positive day. A break through new found support back into the down trend line will likely mean MRVL will continue lower.

Happy Trading,
Andy Swan
co-founder, DaytradeTeam

P.S. - Swing Trading is the art of capturing profits in trending stocks in a relatively short amount of time. SwingTrades.com offers Swing & Day Trading Strategies for the full or part-time trader. Ken Matsumato, who succesfully runs the Swingtrades, is one of the most consistently profitable traders, often recording gains month after month. As of now, he is averaging 36.02% profit per month with Day Trading and 10.77% with Swing Trading Systems!   » Go here to learn more...