We reviewed the charts of Marvell Technologies ( MRVL) on Aug. 27 and wrote that MRVL could weaken in the coming days, "but if the selling is not real aggressive this pullback may be a buying opportunity. A lower shadow on a candlestick chart will be a positive development. Use a $56 sell stop on any remaining long positions."
MRVL dipped into September and stayed above our $56 stop level. MRVL now looks ready to move higher. 
Let's see the charts now.
In this updated daily bar chart of MRVL, below, we can see that prices have consolidated around the $60 area the past two months. Prices have rallied back above the rising 50-day moving average line on a pickup in trading volume. The On-Balance-Volume (OBV) line shows a small decline in September and the beginning of a new rise into October. The Moving Average Convergence Divergence (MACD) oscillator has declined to the zero, but it shows some recent narrowing and that could lead to a bullish crossover.
In this weekly Japanese candlestick chart of MRVL, below, we see a bullish doji pattern that could mark the end of the correction. The 40-week moving average line is still pointed up as is the OBV line. The MACD oscillator may or may not go to a take profit sell-signal.
In this daily Point and Figure chart of MRVL, below, we used close only price data. Here the chart suggests a decline to $53 is possible. A trade at $64.14 would refresh the uptrend.
In this weekly close only Point and Figure chart of MRVL, below, we see an $83 price target.
Bottom line strategy: Continue to hold longs from prior recommendations. Consider adding to longs above $65. $83 is our new price target. Keep sell stops at $56 for now.
