Marvell Technology stock saw a positive improvement to its Relative Strength (RS) Rating on Wednesday, rising from 69 to 79.
IBD's unique rating tracks market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the best-performing stocks typically have an RS Rating of above 80 in the early stages of their moves. See if Marvell Technology stock can continue to show renewed price strength and clear that threshold.
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Is Marvell Technology Stock A Buy?
While Marvell Technology stock is not near a proper buy point right now, see if the chip stock manages to form and break out from a proper chart pattern.
Although earnings and sales growth came in at -9% and -5%, respectively, in the latest report, that marked acceleration for both earnings-per-share and sales.
Marvell Technology stock holds the No. 9 rank among its peers in the Electronics-Semiconductor Fabless industry group. Cirrus Logic, Broadcom and Monolithic Power Systems are among the top 5 highly rated stocks within the group. For more industry news, check out "Chip Stocks To Watch And Semiconductor Industry News."
