MRVL Signals SELL On Hourly Chart

The Technical Analysis

  • Share:

Published: May 28, 2022 at 12:34 PM EDT

On May 27, 2022, Marvell Technology Inc stock (MRVL) achieved a SELL signal on 3 of our proprietary algorithms indicating near-term downward movement for MRVL. Based on historically similar occurrences, the likelihood of this near-term movement is very high. Although this analysis may be technical, it clearly lays out targets for pending price action for MRVL. The chart of all potential movement is at the bottom of this article.

SAG Gauge

This algorithm determines overbought and oversold conditions based on separate conditions all occurring at the same time. There are two buy and sell points for this algorithm. An aggressive signal occurs after a top or bottom is confirmed when technically reading the equity's chart. A conservative signal occurs after a 2-bar confirmation takes place. Aggressive signals can happen without conservative signals. Conservative signals only occur when an aggressive signal also occurs at the same time.

SAG Gauge Aggressive SELL - MRVL Hourly Chart Accuracy

This algorithm accurately identifies SELL points for MRVL on hourly charts 90.329% of the time it signals. A successful signal means the equity price moves down at least 0.4% over the next 50 Hourly bars. When the algorithm properly performs, success is seen at least 1 trading bars after the signal closing price with a median max gain occurring around 22 trading bars after the signal bar. Successful signals see average reversals of 4.766% from the signal bar closing price and median reversals of 3.897%. The equity reverses greater than two percent 68.724% of the time, greater than five percent 32.716% of the time, and moves beyond ten percent 6.79% of occurrences. The signal does not necessarily mean an immediate price reversal will occur. Price reversal is delayed 87.449% of the time. In these instances, the reversals do not obey the signal and begin sizable downward movement for an additional 1 to 10 bars after the triggering signal occurs. This delay can see the equity rise 0.467% to 2.115% beyond the signal closing price of 59.8.

Analysis Based on This Section

Based on the signal closing price of 59.8, the target price is between 55.95 and 58.56 over the next 8 to 43 bars after the signal. However, the equity may first rise toward a price in the range of 60.08 to 61.06 over the first 1 to 10 trading bars.

SAG Gauge Conservative SELL - MRVL Hourly Chart Accuracy

This algorithm accurately identifies SELL points for MRVL on hourly charts 91.172% of the time it signals. A successful signal means the equity price moves down at least 0.4% over the next 50 Hourly bars. When the algorithm properly performs, success is seen at least 1 trading bars after the signal closing price with a median max gain occurring around 22 trading bars after the signal bar. Successful signals see average reversals of 4.719% from the signal bar closing price and median reversals of 3.92%. The equity reverses greater than two percent 67.728% of the time, greater than five percent 33.43% of the time, and moves beyond ten percent 7.236% of occurrences. The signal does not necessarily mean an immediate price reversal will occur. Price reversal is delayed 88.278% of the time. In these instances, the reversals do not obey the signal and begin sizable downward movement for an additional 1 to 9 bars after the triggering signal occurs. This delay can see the equity rise 0.524% to 2.238% beyond the signal closing price of 59.8.

Analysis Based on This Section

Based on the signal closing price of 59.8, the target price is between 55.87 and 58.63 over the next 7 to 43 bars after the signal. However, the equity may first rise toward a price in the range of 60.11 to 61.14 over the first 1 to 9 trading bars.

Relative Strength Index 3x Extrema

This algorithm follows the common Relative Strength Index with a shorter length. It signals when extreme overbought and oversold conditions occur. This particular algorithm signals rarely but maintains one of the best accuracy levels of all my algorithms.

Relative Strength Index 3x Extrema SELL - MRVL Hourly Chart Accuracy

This algorithm accurately identifies SELL points for MRVL on hourly charts 97.03% of the time it signals. A successful signal means the equity price moves down at least 0.4% over the next 50 Hourly bars. When the algorithm properly performs, success is seen at least 1 trading bars after the signal closing price with a median max gain occurring around 29 trading bars after the signal bar. Successful signals see average reversals of 4.475% from the signal bar closing price and median reversals of 3.696%. The equity reverses greater than two percent 71.287% of the time, greater than five percent 36.634% of the time, and moves beyond ten percent 5.941% of occurrences. The signal does not necessarily mean an immediate price reversal will occur. Price reversal is delayed 92.079% of the time. In these instances, the reversals do not obey the signal and begin sizable downward movement for an additional 1 to 10 bars after the triggering signal occurs. This delay can see the equity rise 0.617% to 2.478% beyond the signal closing price of 59.8.

Analysis Based on This Section

Based on the signal closing price of 59.8, the target price is between 56.1 and 58.67 over the next 14 to 44 bars after the signal. However, the equity may first rise toward a price in the range of 60.17 to 61.28 over the first 1 to 10 trading bars.

Summarization of Data

Based on all of the historical datapoints, this analysis has settled on the most likely courses of movement. The red boxes in the image below indicate the likely location of a rise if the signal is not immediately accurate. The green boxes likely hold the extent of signal accuracy. The larger boxes contain all movements aligned with historical data. The smaller box is comprised of half the median historical data. Movement here is possible but not guaranteed. In this instance, half of the historical data shows the stock may first move up between 60.11 and 61.14. This is the small red box. Likewise, half of the historical target end points finish in the smaller green box. In this instance, the target bottom is likely between 55.95 and 58.63.

Chart displaying Reversals and Targets for MRVL

View this interactive chart on TradingView to see where the stock currently is for this idea.

DISCLOSURE: The algorithms and historical accuracy percentages mentioned in these articles are for reference only. Anything can happen in the future when it comes to market movement. Historical price action is not always indicative of future movement. Just because the signals may have a high degree of accuracy, they can always fail. Traders assume all risk to their assets when investing in short or long-term opportunities.

  • Share: