Marvell Technology Stock Jumps 3.67% On Bullish Technical Signals

Marvell Technology (MRVL) shares gained 3.67% in the most recent session, closing at $74.65 on substantial volume of 16.89 million shares. This marks the second consecutive daily gain, with the stock rising 5.36% over this period, signaling renewed bullish momentum.
Candlestick Theory
Recent sessions show a notable bullish reversal pattern. The July 16th session formed a hammer candle (low: $68, close: $70.85) near critical support, followed by consecutive white-bodied candles with higher highs/lows. The July 18th long bullish candle ($71.15–$75.26) closed near its high, confirming buyer dominance. Immediate resistance is established at $75.25 (July 18 high), while strong support holds at $68.00 (June swing low and July 16 trough).
Moving Average Theory
The 50-day moving average currently resides around $70.50, which the price decisively reclaimed this week. Crucially, the stock maintains position above the 200-day average near $67.80, confirming the primary uptrend. However, it remains below the descending 100-day average ($75.80), creating a technical hurdle. The 50/200-day golden cross formed in early June adds structural support, but sustained trading above the 100-day MA is needed to signal robust intermediate-term momentum.
MACD & KDJ Indicators
The MACD histogram recently turned positive after a bullish crossover below the zero line, suggesting waning bearish momentum. Meanwhile, the KDJ oscillator exited oversold territory (K-line dipped below 20 in mid-July) and now shows K(55)/D(47)/J(71) – indicating emerging bullish momentum without extreme overbought readings. KDJ’s upward slope aligns with price recovery, though MACD’s position in negative territory warrants caution about trend strength.
Bollinger Bands
Price rebounded sharply from the lower band ($68) amid July’s volatility spike, compressing the bands after the June expansion. The July 18 close near the upper band ($75.50) signals near-term overextension. Band width contraction to 6-month lows suggests an impending volatility expansion – likely resolving upward given recent volume-supported gains.
Volume-Price Relationship
Recent advance is validated by volume: July 18’s 16.89M shares significantly exceeded the 20-day average. Down days preceding this rally showed lighter volume (e.g., July 11: 10.14M shares), indicating weak commitment to downside. The July 8–9 rebound similarly saw volume expansion (16.4M/18.5M shares), confirming accumulation at $71–$73. This volume profile supports continuation patterns.
Relative Strength Index (RSI)
The 14-day RSI reading of 58 reflects neutral momentum after recently escaping oversold conditions (sub-30 in early July). While not overbought, the rapid ascent from 35 to 58 in five sessions may invite short-term consolidation. Longer-term divergence is noted: price made a higher low in July compared to June while RSI established higher lows, foreshadowing the current rebound.
Fibonacci Retracement
Using the swing high of $90.14 (March 5) and low of $60.19 (May 30), key retracement levels emerge. The 50% level ($75.16) provided resistance in early July, while the 61.8% level ($79.35) capped the June advance. Current price action near the 38.2% retracement ($72.55) – now acting as support – shows confluence with moving averages and volume signals. A decisive break above $75.16 would open a path to retest the June peak near $80.
Confluence & Divergence
Strong confluence exists between the $68–$71 support zone (200-MA, swing low, Bollinger lower band) and bullish volume/RSI divergence. The simultaneous KDJ/MACD bullish crossovers add confirmation. However, bearish divergence appears on higher timeframes: the March–June decline saw lower MACD peaks despite price forming a double top ($90/$79), reflecting weakening momentum that traders should monitor.
Probabilistic Outlook
Marvell Technology exhibits technically constructive behavior with immediate upside bias, supported by volume, candlestick patterns, and multi-indicator alignment. However, decisive clearance of $75.25 resistance – coinciding with the 50% Fibonacci level and descending 100-MA – is critical to confirm trend reversal. Failure here may trigger consolidation between $71–$75. Traders should watch the MACD zero-line test and KDJ stability for confirmation signals.