MRVL has a melt-down trader reaction to mediocre earnings LONG
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).
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).
İşlem aktif
MRVL chart zoomed to 15 minutes shows a bounce from the support of the Fib zoneand then a series of inside bars showing a reversal and capitulation as to the bottom.
Entry validated.
İşlem aktif
MRVL price is stead in the premarket lends support to a move higher in the regular hours. İşlem aktif
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
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.