MRVL Technology is a semi conductor company that has been lagging behind this week with other semis like NVDA having nice rallies. Great company with continued growth in the 5g and cloud computing segment. Looking at this for a potential swing with ER approaching early March. In a nice uptrend since the pandemic hit and currently in a 2-3 week downtrend channel to complete a nice bull flag. Watching for a breakout of the downtrend with a significant increase in volume for a confirmed reversal. Looking for a break and hold above 51.60 for an overall move up to retest ATH at 55.80. Over that I'm looking at a push to my wave 5 target at 62.
Ways to Play this
1. Buy Shares and hold long term - low risk low reward
2. Load on the dip before the rip (load zone: 48-51), scale in with option contracts w/ couple month out expiration
3. Wait for the breakout (confirmed reversal) of 51.60 to load up couple month out contracts
Options to consider
55C 3/19 1.84 (low risk: medium reward)
50C 2/19 1.66 (medium risk: high reward)
51C 2/19 1.15 (medium risk: high reward)
55C 2/19 .23 (Lotto)
Ways to Play this
1. Buy Shares and hold long term - low risk low reward
2. Load on the dip before the rip (load zone: 48-51), scale in with option contracts w/ couple month out expiration
3. Wait for the breakout (confirmed reversal) of 51.60 to load up couple month out contracts
Options to consider
55C 3/19 1.84 (low risk: medium reward)
50C 2/19 1.66 (medium risk: high reward)
51C 2/19 1.15 (medium risk: high reward)
55C 2/19 .23 (Lotto)