Marvell Technology Group, Ltd.(MRVL) is in an downtrend but momentum is showing some life

(29-Feb-2008) (29-Feb-2008) Marvell Technology Group, Ltd.(MRVL) closed at 11.4, down -0.45 or -3.8 % today. Based on our analysis, Marvell Technology Group, Ltd.(MRVL) is in an downtrend but momentum is showing some life.

The closing price of Marvell Technology Group, Ltd.(MRVL) is below its 50 day moving average of 11.99 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that Marvell Technology Group, Ltd.(MRVL) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 20-Feb-2008, about 8 trading days ago.