Marvell Technology (MRVL) stock price declined during its latest intraday trading, as a negative divergence begins to form on the Relative Strength Index, with early signs of a bearish crossover adding pressure on the stock in the near term. The stock appears to be undergoing profit-taking after its previous gains, attempting to build positive momentum that could support a renewed recovery and upward move, amid continued positive support from trading above its 50-day simple moving average, which reinforces the dominance and stability of the main upward trend in the medium term, as it moves along a supporting trend line.

Therefore, we expect the stock price to rise in upcoming trading sessions as long as the support level at $88.80 holds, targeting the key resistance level at $102.75.

Todays price forecast: Neutral