Marvell Technology celebrates predictions and results

Marvell Technology celebrates predictions and results

(Finance) – Overbearing rise for Marvell Technologywhich shows a searing climb of 29.88% on previous values.

The semiconductor maker announced better-than-expected first-quarter results and provided a compelling outlook: Marvell Technology expects AI revenue to double this year.

By comparing the performance of the stock with the NASDAQ 100on a weekly basis, it is noted that the manufacturer of communication and storage integrated circuits maintains positive relative strength compared to the index, demonstrating greater appreciation by investors compared to the index itself (weekly performance +43.61%, compared to +3.15% of theindex of US technology stocks).

The trend of short of Marvell Technology is strengthening with resistance area seen at USD 66.22, while the most immediate support is seen at 60.43. A continuation of the upward trend towards 72.01 is expected.