Barchart Chart of the Day: Marvell Technolgy($MRVL)

Charts

Barchart.com’s Chart of the Day – Marvell Technology – Best of the Best
June 8, 2020: Published by Barchart.com
 

The Barchart Chart of the Day belongs to the electronics company Marvell Technology (MRVL). I found the stock by using Barchart’s powerful screening tools to find the stocks with both the highest Weighted Alpha and technical trading signals, then sorted the list by the most frequent number of new highs in the last month. I used the Flipchart feature to review the charts for consistent price appreciation.  Since the Trend spotter signaled a buy on 4/14 the stock gained 37.05%.

Marvell Technology is a leading designer, developer and supplier of mixed-signal and digital signal processing integrated circuit for high-speed, high-density, digital data storage and broadband digital data networking markets. The company’s goal is to continue to support its customers in providing faster, better solutions to meet their customers’ needs for increased bandwidth as communication solutions evolve. The company meets this goal with state-of-the-art chip solutions that enable data transfer in data storage devices and networking applications.

MRVL

Barchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart technical indicators:

  • 100% technical buy signals
  • 60.01+ Weighted Alpha
  • 45.53% gain in the last month
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 13 new highs and up 30.35% in the last month
  • Relative Strength Index 74.38%
  • Technical support level at 35.52
  • Recently traded at 35.03 with a 50 day moving average of 27.28

Fundamental factors:

  • Market Cap $23.88 billion
  • P/E 112.16
  • Dividend yield .67%
  • Revenue expected to grow 11.50% this year and another 16.40% next year
  • Earnings estimated to increase 39.40% this year, an additional 52.20% next year and continue to compound at an annual rate of 40.50% for the next 5 years
  • Wall Street analysts issued 1 strong buy, 10 buy, 12 hold and 1 sell recommendation on the stock
  • The individual investors following the stock on Motley Fool voted 1,330 to 78 that the stock will beat the market
  • 39,650 investors are monitoring the stock on Seeking Alpha

 

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