Marvell Shares Rise on Google Deal, Broadcom Falls

Google's agreement with Marvell could be perceived as a positive signal for GOOGL and may provide short-term support for the stock. Technical indicators are mixed: RSI is neutral at 45, MACD is negative but approaching its signal line, suggesting weakening momentum. The price is just below the SMA20 and below the SMA50, which could create short-term resistance. Although the news flow is positive, the upside is expected to be limited due to current technical weakness. Overall, a slight upward movement is possible in the short term, but a strong rally should not be expected.

AVGO shares have fallen 9.4% over the past 24 hours, with the RSI at 26.9, indicating oversold conditions. MACD values are negative and below the signal line, suggesting weak short-term momentum. News headlines highlight Marvell's rise on a Google deal while Broadcom declines, which could create negative competitive sentiment for AVGO. The price is trading below both the SMA20 and SMA50, pressuring the technical outlook. In the short term, the downtrend is likely to continue, though oversold conditions may trigger a corrective bounce.

The Google deal news is viewed as a positive catalyst for Marvell and could attract short-term buying interest in the stock. However, technical indicators remain weak: the price is below the 20-day and 50-day moving averages, and the MACD is in negative territory. The RSI at 41 suggests ongoing selling pressure, though the stock is not oversold. With the news support, an upward reaction at tomorrow's open is possible, but for this move to be sustained, resistance levels need to be broken. There is short-term upside potential, but caution is advised.