Long Position on MRVL @ $41.55 on 10/6/2020 (Momentum)

Marvell Technology Group Ltd. (MRVL) designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits.

It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; custom application specific integrated circuits; and printer SoC products and application processors.

The company also provides a range of storage products comprising storage controllers for hard disk drives (HDD) and solid-state drives that support various host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, non-volatile memory express (NVMe), and NVMe over fabrics; and fiber channel products, including host bus adapters, and controllers for server and storage system connectivity.

It has operations in the United States, China, Malaysia, the Philippines, Thailand, Singapore, India, Israel, Japan, South Korea, Taiwan, and Vietnam. 

Shares are on the cusp of breaking out of their bullish "cup and handle." The Company is scheduled to report its results on November 26th.

Entry Point: $41.55

Stop Loss: $39.45

Trading Range: $16.45 - $41.83

Target Price: $45.70

Updates

11/6/2020 3:37:15 PM

Taking Profits at $45.05.

Position closed on 11/6/2020 at price of $45.05 with a 8.42% gain in 31 days.

Back to Portfolio