Marvell Technology (MRVL) Recently Broke Out Above the 20-Day Moving Average

Marvell Technology (MRVL) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, MRVL broke through the 20-day moving average, which suggests a short-term bullish trend.The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.MRVL could be on the verge of another rally after moving 37.3% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.The bullish case only gets stronger once investors take into account MRVL's positive earnings estimate revisions. There have been 14 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.Investors may want to watch MRVL for more gains in the near future given the company's key technical level and positive earnings estimate revisions.Beyond Nvidia: AI's Second Wave Is HereThe AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.See Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks