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Tickers in this Article: MRVL
New York, July 3rd ( - Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) ended the trading session lower by $0.09 or -0.8% from its previous close. Marvell's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Marvell Technology Group Ltd. (NASDAQ:MRVL) designs, develops, and markets integrated circuits for communications-related markets. The Company offers products that provide the interface between analog signals and the digital information used in computing and communications systems.

Marvell's current stock range is determined by calculated support defined at $10.87 and by the resistance level at $12.18, which should be used by traders planning their next move.

If traders want to establish a position in Marvell, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor Marvell for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:

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