Double bottom on Marvell?

Discussion in 'Stocks' started by eagle488, Oct 24, 2006.

  1. What do you think?


    I still think it's in a downtrend still, but I am usually wrong :p
  3. cmccann77


    I think if it hits 15.50 it could be a double bottom even though it is wide apart ...I would wait for a significant trend upwards before I would get into any trade
  4. I was tempted to buy at the last time it was in the 15's. I didn't then it went to 17. I think if it goes to the 15's it may be a fast trade for a couple of points. Prob. jump in on it as well.
  5. It's going to need more than a week double-bottom to give you a decent buy signal.

    The trend has been down while the broader indicies have surged to consistently higher highs, while the stock has been sold heavily, it certainly could go substantially lower before serious buying enters the picture.

    Like has been mentioned before, it might be good for a scalp, but the med-to-long range technicals aren't too pretty (it doesn't even have a decent single-indicator divergence).

    If anything, look for an opportunity to get short.



    edit: If you pull up the chart and keep looking to the left, you can see this thing could drop by another 6 to 8 bucks, easy.