Technical analysis of Marvell Technology (MRVL) showing a 1.2M share dark pool print at $329.25 on June 10th. Bullish setup above $241.50 with targets to $252.93, bearish setup below $237.75 with downside targets to $207.24. ATR at $28.50 marks volatility range.
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All right, so Marvell largest prints in the last 30 days. You can see here June 10th we had a print and we moved up and right at the top here 1.2 million 329.25 and we pulled back. Look at this massive volume. We pulled back into this consolidation of prints, moved up, and then we've moved back down through the prints. So you can see over the last few days increasing volume back to the test the 4 exponential moving average and push off. Now we're moving down. There's a 50 simple moving average right there and then down here the 100 around 164. So the ATR on this one is about $28.50. So let's go ahead and map this out for an intraday trade. We're going to be bullish above $241.50. Let's get above here, this S2. We want that to be support. Target $242.99. Then we've got $245.39 is S1, $246.13, $247.18, and that's my 50 simple moving average there, $248.22. Then we've got $250.32, $251.36, $252.41, $252.93, and that's the pivot here. And we've got the 200 exponential, 200 simple. This is— I'm assuming here would be a ceiling. If it was me, I'd be taking profit into this anyway because it's a retracement trade to the upside. On the downside, we're going to be bearish below $237.75. Let's have this to be resistance: $235, $230.08, $225, and we've got $218.66— well, $220, $218. 18, 66, 12, 50, 207, 24 is S5. So you can see the downside is by far better with these larger pockets here.