BullBull Tech Intel | MRVL Surges 32% in a Day After Jensen Huang’s Endorsement; Did AVGO Fall into a 'Golden Pit' Post-Earnings?

Following Trump’s public stock endorsement, NVIDIA CEO Jensen Huang appears to have started wielding his own 'golden touch'—during his keynote speech at ComputeX 2026, Huang repeatedly emphasized that 'as AI computing power and memory bottlenecks gradually ease, high-speed interconnectivity will become the next critical industry-wide challenge,' and pointed out that $Marvell Technology (MRVL.US)$ is a key partner in solving this issue and could be the next company to reach a trillion-dollar market cap.Upon these remarks, Marvell Technologyjumped more than 32% in a single day (June 2),It closed at $301.65 yesterday, and as of this writing, the stock price has pulled back; meanwhile, after U.S. market hours on June 3, the long-awaited $Broadcom (AVGO.US)$ latest earnings were finally released—results were strong, but guidance disappointed the market, triggering a 'buy the rumor, sell the news' reaction, with shares down more than 10% as of this writing.

Marvell Technology (MRVL)

Marvell Technology remains in a strong uptrend overall.Trading at $301.65, the stock is significantly above both its 20-day moving average ($196.14) and 50-day moving average ($157.55), with a clear bullish alignment of moving averages. The Bollinger Bands have expanded notably (bandwidth: 147.72), and the price surged well beyond the upper band ($270), indicating accelerated upward momentum. Large gap-up moves occurred consecutively on June 2 and June 3, reflecting intense buying pressure.

However, a critical warning pattern emerged on June 3—a variant of the shooting star candlestick: the stock gapped up sharply at the open to $317.63, formed a pronounced upper wick, and ultimately closed at $301.65, retreating approximately $16 within the day. This pattern appeared at the peak of a sustained rally,serving as a short-term top reversal warning. Close attention should be paid to whether the recent gap-up support level at $290.79 holds effectively.

Key Technical Indicators Interpretation

Moving Average (MA):The moving averages remain in bullish alignment, with price trading well above both MA20 and MA50, preserving a solid medium- to long-term trend structure. However, the deviation between the current price and MA20 stands at approximately 53.8%, and versus MA50 at roughly 91.5%—both deviations are in historically extreme territory, indicating objective near-term pressure for mean reversion.

RSI:The current RSI value is 86.85 (deeply overbought territory >70), but no bearish divergence has emerged at this level. RSI has entered historically high levels; continued monitoring is required to see if price makes a new high while RSI fails to confirm with a new high, forming a bearish divergence pattern.

MACD:MACD line (28.82) > Signal line (19.16), indicating a bullish crossover with continuously strengthening momentum and no divergence signals currently present.

Bollinger Bands:The stock price ($301.65) has significantly broken above and is trading well above the upper Bollinger Band ($270). The Bollinger Bands have expanded markedly, and the price is now in an extreme expansion phase, rapidly moving along the upper band—a hallmark of a strong trending market.

Technical Comprehensive Analysis

RecentlyKey support to watch is at $290.79; a break below this level brings attention to the gap down toward $270.Further exposure to risk.

AboveResistance is seen at $324.20. A breakout above this level warrants focus on the potential for accelerated continuation; however, a breakout without volume confirmation raises concerns about a false breakout followed by a pullback.

The upper Bollinger Band ($270) serves as the key medium-term support. If price quickly retraces to this zone, it will be a critical level to assess whether the trend continues.

Broadcom (AVGO)

After the U.S. market close on June 3, Broadcom released its Q2 earnings report: revenue surged 48% year-over-year, hitting a new all-time high, with AI chip revenue doubling outright. However, forward guidance disappointed the market—shares dropped immediately from the closing price of $479 to $413 in after-hours trading and were last quoted at $431 as of this writing.

Broadcom remains in an overall uptrend. As of this writing, the stock price of $431 trades above both the 20-day moving average ($430.69) and the 50-day moving average ($395.06), with moving averages aligned in a bullish configuration, preserving a solid medium-term upward structure.

Key Technical Indicators Interpretation

Moving Average (MA):The 20-day MA is at $430.69 and the 50-day MA at $395.06; this moving average structure supports the medium-term uptrend, providing a floor that limits downside room during short-term pullbacks.

RSI:Current RSI value is 73.34 (in overbought territory >70). No bullish divergence is present. Price and RSI have simultaneously reached recent highs, showing no bearish divergence signal yet; however, being in the overbought zone warrants attention to potential pullback pressure.

MACD:The MACD line (17.47) is above the Signal line (13.05), indicating a golden cross with sustained strengthening momentum and no clear divergence observed.

Technical Comprehensive Analysis

Intraday on June 4Key support levels to watch closely are $411–$414 (a bottom range that held multiple times in mid-May),if the price fails to stabilize above this range,the next line of defense lies at $404 (May’s low);if the session opens lower but trades higher intraday,resistance levels to monitor on the upside include the $430–$432 range (around the 20-day moving average, which has turned into resistance after the breakdown) and the $446–$450 range.

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