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In a welcome move, Marvell Technology (MRVL) saw its Relative Strength Rating rise from 67 to 78 on Monday. This proprietary rating tracks technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matched up against all other stocks. Decades of market research shows that the best stocks tend to have an 80 or higher RS Rating as they launch their largest price moves. See if Marvell Technology can continue to rebound and hit that benchmark. Marvell Technology is now considered extended and out of buy range after clearing an 85.27 buy point in a first-stage consolidation. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line. Marvell Technology showed 123% EPS growth in its most recent report. Revenue increased 58%. Keep an eye out for the company's next round of numbers on or around Nov. 27. Marvell Technology holds the No. 9 rank among its peers in the Electronics-Semiconductor Fabless industry group. Broadcom (AVGO), Credo Tech Group (CRDO) and NVIDIA (NVDA) are among the top 5 highly rated stocks within the group. This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
