Marvell Technology Stock Clears Key Benchmark, Hitting 80-Plus RS Rating

The Relative Strength (RS) Rating for Marvell Technology (MRVL) stock climbed into a new percentile Monday, with an increase from 78 to 83.

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When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

IBD’s proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock’s price action over the trailing 52 weeks matches up against other publicly traded companies.

Over 100 years of market history reveals that the best-performing stocks tend to have an RS Rating north of 80 in the early stages of their moves.

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Is Marvel Technology Stock A Buy?

Marvel Technology stock reclaimed its 200-day moving average on Friday, but it’s barely holding above that line. While the chip stock is not near an ideal buy point right now, see if it is able to form and break out of a proper consolidation. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.

The fabless chipmaker reported negative growth for both the top and bottom lines last quarter. Marvell Technology is expected to report its next quarterly numbers on or around Dec. 1.

Marvell Technology stock holds the No. 8 rank among its peers in the Electronics-Semiconductor Fabless industry group. Rambus (RMBS) and Advanced Micro Devices (AMD) are also among the group’s highest-rated stocks. For more industry news, check out “Chip Stocks To Watch And Semiconductor Industry News.”

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