▲ 3 r/swingtrading
MRVL: Range breakout + double bottom… 160 next?
I’ve been looking at MRVL recently and the structure looks pretty clean overall.
It spent roughly a year moving in a range, and now it’s starting to move out of that zone.
If you take the height of that range as a reference, it could point somewhere around 160, although that’s more of a rough projection than anything precise.
At the same time:
- There’s a double bottom around ~100 that seems to have held
- Since then, price has been making higher highs and higher lows
- Still above the 50 EMA, with the 200 EMA below → overall structure looks stable
Momentum also doesn’t look weak:
- RSI is trending up
- MACD is gradually expanding
The main level right now looks like the 121–123 gap area.
Price is testing it, so this could be an important spot.
- If it stays above → continuation toward 140+ becomes more likely
- If it pulls back → a move toward ~100 (previous breakout area) wouldn’t really break the structure
Overall, it doesn’t look like a random spike.
More like a gradual breakout that could develop further if it holds up.
Just sharing what I’m seeing on the chart — curious how others are reading it.
u/WayofInvestment — 1 day ago