Marvell Technology Group, Ltd. (MRVL) has broken out to a new high for the move up. Let's check out favorite charts to see if we can adjust our strategy.
In the daily bar chart of MRVL, below, we can see that price made a sideways to slightly higher consolidation pattern the past seven months and now prices have moved up to a new high. Prices are above the rising 50-day moving average line and the rising 200-day moving average line.
Trading volume has been declining since April and that would normally be a sign of weakness for a stock but the On-Balance-Volume (OBV) shows a rise until late July and then just a two-month decline before renewed strength.
The trend-following Moving Average Convergence Divergence (MACD) oscillator has moved back above the zero line to signal an outright go long message.
In the weekly bar chart of MRVL, below, we can see a bullish setup. Prices are above the rising 40-week moving average line.
The weekly OBV line shows a rise from December and the MACD oscillator is crossing to the upside for a new outright go long signal.

Bottom-line strategy: if you are already long MRVL that's great. Hold longs and consider raising sell stops to a close below $26 for now. The $37-$38 area is our next price objective.
(Marvell Technology is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells these MRVL? Learn more now.)