$Marvell Technology(MRVL)$ NOV

$Marvell Technology(MRVL)$ NOV20 240C, still actionable.

Zone: $232.14 to $235.42

Invalidation: close under $223.69

Objectives: $248, then $262

The math: up 6.1% to the first objective and 12.1% to the second, against 4.3% risk on the invalidation, about 2.8 to 1 to the second.

Think of a chip company that quietly wires up the giant data centers behind the AI boom, and then consider how buyers stepped in after an early dip and pushed the stock up more than 2 percent. This swing is built on that same strength, with the October 28 AI Networking Summit coming up as a straightforward reason for fresh eyes to look at the story again. If the move holds, the first stop is 248 and then 262, and a close under 223.69 tells us the buyers lost the plot.

The October 28 summit is the next date to watch, and a push over the 238.58 high is the early tell.

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