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Tickers in this Article: MRVL
New York, August 21st ( - Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) are trading very close to calculated support at $10.30 with price action closing at just $10.44 and placing the stock near levels where traders will start paying attention.Marvell's stock range is defined by its calculated support defined at $10.30 and by the resistance level at $12.33, which should be used by traders planning their trades. These support and resistance levels are based on a peaks and troughs algorithm of the stock's price action.

Traders wanting to establish a position should pay close attention to Marvell's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $12.33 might limit their upside, however, if the stock breaks resistance, it could be a good point to add to the position.

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.

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