Marvell Technology Rises 6.59% In Four Days As Technicals Turn Bullish

Marvell Technology (MRVL) concluded the most recent session with a 3.08% gain to $70.98, marking its fourth consecutive daily advance and a cumulative 6.59% rise over this period. This upward momentum occurs after a notable August selloff, prompting examination of key technical dynamics.
Candlestick Theory
Recent sessions display a bullish pattern sequence: the 2025-09-08 4.22% rally formed a piercing line above the $63 support, followed by three small-bodied candles signaling consolidation. The current four-day advance features consecutive green candles with higher highs/lows and diminishing upper wicks, indicating sustained buying pressure. Key support now resides at $67.35 (09-12 close), while the August breakdown gap near $75-77 acts as major overhead resistance. The August 29th 18.6% plunge remains a prominent bearish marubozu candle establishing the $62.87 trough.
Moving Average Theory
The 50-day moving average (MA) at $68.20 has been reclaimed after September’s rally, confirming near-term bullish momentum. However, the 100-day MA at $76.75 and 200-day MA at $78.15 loom as critical resistance layers, with the price currently trading 7% below the 100-day level. Golden crosses remain absent since the 50-day remains below the 100-day, though their narrowing convergence (-2% differential) suggests weakening medium-term bearish bias. Sustained trade above $71.50 is needed to challenge the declining 100-day MA.
MACD & KDJ Indicators
MACD (12,26,9) shows a bullish crossover emerging below the zero line, with histogram bars expanding positively for the first time since April. Concurrently, KDJ (9,3,3) exhibits %K (68) crossing above %D (61) from oversold territory, while J-curve (82) approaches overbought zone. This momentum alignment suggests strengthening upside potential, though MACD’s position below neutral warrants monitoring for sustainability. No bearish divergences are present relative to price action.
Bollinger Bands
Price has pierced the upper Bollinger Band ($69.80) after two months of boundary compression, signaling volatility expansion and bullish breakout confirmation. Bandwidth contracted 40% during September’s consolidation before the current expansion, historically preceding directional moves. The 20-period moving average ($67.45) now acts as support. Sustained closes above the upper band may indicate short-term overextension, potentially prompting mean reversion.
Volume-Price Relationship
Recent gains are validated by rising volume, with the 09-17 session recording 29.16M shares – a 38% increase over the 10-day average. The rally days (09-08, 09-16, 09-17) all showed above-average volume, while pullbacks exhibited below-average participation. Accumulation/distribution line trends upward, suggesting institutional buying support. However, volume remains 26% below the August capitulation spike (45.5M shares), tempering breakout conviction.
Relative Strength Index (RSI)
The 14-day RSI reading of 61 sits in neutral territory after rebounding from oversold conditions (29 on 08-29). While trending upward, it avoids the overbought threshold (>70), suggesting room for further upside before exhaustion signals emerge. The RSI’s higher low since mid-August contrasts with price’s lower low in late August, forming a positive divergence that foreshadowed the current rebound.
Fibonacci Retracement
Using the April trough ($49.38) and January peak ($124.76), key retracement levels emerge: 38.2% ($70.25), 50% ($87.07), and 61.8% ($103.89). Current price action tests the 38.2% level, coinciding with September’s highs ($72.41). This creates a confluence resistance zone ($70-72.50) with Bollinger Band extremes. A decisive close above $72.50 would open upside toward the 50% level, while failure could retest the 23.6% Fibonacci support ($62.30).
Confluence and Divergence Observations
Confluence appears at $70-72.50 resistance (Fibonacci 38.2%, September highs, Bollinger upper band), intensifying significance. Bullish alignment exists between MACD/KDJ crossovers, volume confirmation, and Bollinger breakout. No material divergences currently challenge the emerging uptrend. However, the 100/200-day MAs ($76.75-$78.15) and 50% Fibonacci level ($87.07) represent stacked resistance barriers requiring significant volume to overcome. Probability favors near-term consolidation below $72.50 before directional resolution.