Buy the Dip on This Semiconductor Stock

Core Viewpoint - Marvell Technology Inc (NASDAQ:MRVL) is experiencing a short-term bounce despite recent losses, with potential for recovery towards its all-time high of $127.48 [1] Group 1: Stock Performance - MRVL stock is currently trading at $88.13, up 2.7% [1] - The stock was on track for its seventh loss in nine days prior to the recent bounce [1] - Year over year, MRVL is up 11% [3] Group 2: Technical Indicators - The stock has pulled back to its 260-day moving average, being within 0.75 of the trendline's average true range for the first time in at least eight of the past ten trading days [2] - MRVL has flashed a historically bullish signal, with five similar signals over the past three years leading to higher prices 80% of the time, averaging an 11.6% gain one month later [3] - The 14-day relative strength index (RSI) of 22.5 indicates that the stock is in "oversold" territory, suggesting a potential short-term bounce [3]