Wednesday, July 29, 2009

MRVL 13.73, -0.38 (-2.73%)

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Marvell Technology Group Ltd. is a fabless semiconductor provider of application-specific standard products. The Company develops complex system-on-a-chip (SoC) devices using its technology portfolio of intellectual property in the areas of analog, mixed-signal, digital signal processing and embedded ARM-based microprocessor integrated circuits. -Google Finance

Short term Projection: Looking for a (1) bounce off the upper trend line resulting in a price drop. The (2) decrease in volume matches the predicted move. Not enough support to continue the short term upward trend. Can see $12.50 at the end of August. It appears there are no market news to cause the stock to break the upper trend line. Use a covered call (hold long, write call option) for one month at a price above current price of 13.73
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Long Term Projection: Upward trend. More green candle sticks than red meaning closing prices are higher than opening prices. This is a result of more demand from buyers causing the price to rise overall.

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