Semiconductor maker Marvell Technology Inc. (MRVL) is set to report its latest quarterly numbers after the close of trading Thursday.
Let's check out the charts and indicators.
In this daily bar chart of MRVL, below, I can see how prices have struggled around the declining 200-day moving average line. Prices are still above the rising 50-day moving average line but I would be losing my conviction. The trading volume has declined the past two months. The On-Balance-Volume (OBV) line has risen so far this calendar year but it is not all that strong. The Moving Average Convergence Divergence (MACD) oscillator has crossed to the downside but could tip upward or downward in the days ahead.
In this weekly Japanese candlestick of MRVL, below, I can see MRVL trade around the declining 40-week moving average line. The trading volume has declined recently and the OBV line has been weak with sellers of MRVL more aggressive than buyers. The MACD oscillator has improved, but still remains below the zero line.
In this daily Point and Figure chart of MRVL, below, I can see an upside price target of $50 but a trade at $43.51 could start to weaken the picture.
In this weekly Point and Figure chart of MRVL, below, I can see a downside price target in the $38 area.
Bottom line strategy: I have no special knowledge of what MRVL could tell shareholders this evening but the charts and indicators do not convince me to be a buyer here.
