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Registered User
Joined: 4/18/2005
Posts: 4,090
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My anticipation is that there is a third and final leg down and then a bottom phase yet to come. I don't see this as a huge down trend beginning.... and i'm noticing more and more positive divergences developing right now.
so I came across MRVL tonight. Lately the scan hasn't been producing much great stuff... that IMO is because of the current market condition.... I expect it to change. But some nice looking things do come through . Looking at TSV 52 on weekly candles and volume. It seems to me that TSV rebounding from the bottom of it's range back in AMJ of this year was a bottom highlighted... I find this setting useful for point out shrot term bottoms.... but notice how it has behaved in relation to price...it seems a bit more bullish than price does here.... but i'm not as adept at reading it over weekly candles and comparing it to daily candles.
At a glance I think MRVL should move up from here and out of this consolidation later this year or early next...what do you guys think? MS is also slightly positive divergent.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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On the daily and weekly. It still looks like there's
downward pressure.
I'm looking at a chart with my cycle indicator and automatic trendlines.
The 2 day chart looks the best.
Thanks
diceman
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Registered User
Joined: 12/1/2004
Posts: 34
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I like it up to its recent highs of around $20. Whether it rebounds off of this level or breaks through will let you know what to expect over the intermediate term for MRVL. The 10% gain to $20 from here looks good in this market environment.
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Registered User
Joined: 12/1/2004
Posts: 34
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HCP. Any thoughts. It seems to be bouncing off of a recent bottom with improving RSI and MS. REITs appear to be gaining momentum recently.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Scott, I like the way this looks here also. It has already given back 50% from its June-July rally. BOP is climbing up to the zero line and TSV is just now crossing over it.
Ljoncape, I also like HCP. Once it breaks the minor resistance over $30. TSV is Wildly divergent and BOP is strong.
Good luck to both of you..
Apsll.
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