MRVL has a melt-down trader reaction to mediocre earnings LONG

2024년 3월 8일

MRVL on the 2H chart had been in a trend up since February 29th when it broke out of the

high volume area of the profile in a pre-earnings run . Earnings were reported and MRVL

more or less matched the analyst's forecasts. Price sold-off in the aftermath of trader

disappointment. I held a large position of both shares and options but sold off half of

the positions two days ago to capture some profits. I see MRVL as still above VWAP

and so in buying territory and now at a price level supported by the first upper anchored

VWAP line as well as the upper boundary of the high volume area. It is a strong stock which

I do not believe will make a full Fibonacci retracement. I will now add back into my

position half of what I sold a few days ago. and expect a bullish continuation. On a lower

time frame, I have guidance from the inside bars that price is printing in the after hours.

When regular trading arrives on Friday, I will buy call options for mid-April striking

$85 (OTM).

2024년 3월 8일

액티브 트레이드

MRVL chart zoomed to 15 minutes shows a bounce from the support of the Fib zone
and then a series of inside bars showing a reversal and capitulation as to the bottom.
Entry validated.

2024년 3월 8일

액티브 트레이드

MRVL price is stead in the premarket lends support to a move higher in the regular hours.

2024년 3월 9일

액티브 트레이드

MRVL showing increased volatility with federal news job reports- realized some of the loss closing 50% of the position expecting support to hold and buying volume to
move price higher next week to allowthe remaining 50% to gain and offset some of the loss in this trade