$MRVL looks for support in “GO” trend

$MRVL looks for support in “GO” trend


June 2023


Alex Cole

In the middle of May, $MRVL entered a "Go" trend.

Weeks later, it gapped explosively higher to set new 52 week highs.  Since then, and after a Go Countertrend Correction Icon (red arrow), it has struggled to go higher moving mostly sideways as it corrects against the "Go" trend.  Importantly, price has found support at the top of the gap and is once again testing that support on weaker aqua "Go" bars.  GoNoGo Oscillator has fallen to test the zero line during this price consolidation and once again rests at that level. As we see the beginnings of a GoNoGo Squeeze build, we will watch to see if the oscillator finds support at zero and rallies into positive territory.  This could give price the push it needs to make an attempt at another new higher high.