Strictly Buy and Sell Set Ups Message Board

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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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From: chowder	2/24/2006 8:50:30 AM
	Read Replies (2) of 13449

2/24 SET UP ... MRVL ... Intermediate to Long Term .......... MRVL is going to gap up at the open on good volume. This anticipated gap must be on good news. I am looking at the weekly chart for this set up. We have a rising 20 week moving average above a rising 40 week moving average with a comfortable distance between the two. This is a bullish alignment and when you have a bullish alignment, the low risk, high probability trade is to go long as price bounces of price support levels. MRVL has come down to test price support, as shown on the chart. We will see price gap up at the open which should provide upside momentum. stockcharts.com[h,a]waclyiay[d20050224,20060224][pb40!b20!f][vc60][J70333685,Y]&listNum=1 Entry target $64.59. Initial stop loss $60.98. Profit target $5.00 - $13.00. dabum

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