TMCnet News
Upgrade Alert for Marvell Technology (MRVL)Feb 05, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Marvell Technology (NASDAQ:MRVL) was upgraded from Sector Perform to Outperform at RBC Capital today. The stock closed yesterday at $9.28 on volume of 6.3 million shares, below average daily volume of 13.7 million. In the past 52 weeks, Marvell Technology share prices have been bracketed by a low of $6.98 and a high of $16.86 and closed yesterday at $9.28, 33% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 1.2%. Marvell Technology Group Ltd. designs, develops, and markets integrated circuits for communications-related markets. The Company's products provide the interface between analog signals and the digital information used in computing and communications systems. Marvell's technology is applied to the broadband data communications market. Based on a current price of $9.28, Marvell Technology is currently 2.1% above its average consensus analyst price target of $9.08. The stock should find resistance at its 200-day moving average (MA) of $10.33, as well as support at its 50-day MA of $8.47. SmarTrend is monitoring the recent change of momentum in Marvell Technology. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Marvell Technology in search of a potential trend change. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |