$MRVL Long Idea - Wyckoff accumulation
Marvell Tech
Bull case : Wyckoff accumulation pattern with 78 resistance , expect some digestion there and then it's on Phase E where I see 90 and first price target in coming months (green arrow)
Bear case : rejected at 78 and "double top" , it's at least back down to test rounded base at 70 zone, break there and it's back to 60 support...
Today's flow was very bullish with a buyer of 1/20/23 90 calls and 6/17/2022 77.5 calls .
I think this rally is just getting started and my bias is to the upside , I'm long .
Bull case : Wyckoff accumulation pattern with 78 resistance , expect some digestion there and then it's on Phase E where I see 90 and first price target in coming months (green arrow)
Bear case : rejected at 78 and "double top" , it's at least back down to test rounded base at 70 zone, break there and it's back to 60 support...
Today's flow was very bullish with a buyer of 1/20/23 90 calls and 6/17/2022 77.5 calls .
I think this rally is just getting started and my bias is to the upside , I'm long .
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