Marvel Technology price tries to to recoup some losses - Forecast today - 18-03-2024

Marvel Technology’s stock price (MRVL) climbed in the intraday levels, while trying to recoup some recent losses, as it also vented off oversold saturation in the RSI, with the stock hurt by piercing the secondary upward short-term trend line, amid the dominance of the downward correctional wave, as it also suffers negative pressure from the 50-day SMA. 

Therefore we expect the stock to return lower and target the support of 58.12, provided the stock settles firmly below 66.80.

Trend forecast: Likely Bearish