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Buy: Two Stocks Nearing The Master Level

May 09, 2011 12:13 PM ETMRVL, BB
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Seeking Alpha Analyst Since 2009

InTheMoneyStocks.Com is a research and consulting company focused on mathematical proprietary techniques along with a key understanding of price, pattern and time. Through understanding geometry and other technical analysis methods, InTheMoneyStocks.Com prides itself on avoiding Wall Street hype while calling major and minor moves in the DOW, NASDAQ and S&P, commodities, currencies and stocks. Mission Statement: Our goal is to provide accurate and precise market guidance without the Wall Street hype.

 The market is just slightly off of a mega top. Recently, the SPDR S&P 500 ETF (NYSE:SPY) hit $137.18 before reversing last week. The markets reversed primarily because the Dollar made a bottom and began to spike higher. While the markets seem toppy and may be seeing further downside, there are some stocks that are starting to look attractive.

Research In Motion Limited (NASDAQ:RIMM) has been crushed in recent months. Margin pressure, competitors like the iPhone and Droid are hammering profits across the board. The stock has been hit accordingly, dropping from a 52 week high of $70.54 to a current price of $44.86. The key to this trade is the pivot low from August 31st, 2010. This low level was $42.90 and represents a beautiful double bottom for a buy. The stock should find significant support here.

Marvell Technology Group Ltd. (NASDAQ:MRVL) is another tech stock that has been crushed in 2011. On January 19th, 2011, MRVL was trading as high as $22.00 before collapsing to its current level of $14.65. MRVL is in the semi sector and while many semiconductor players have been hot, MRVL has been cold as ice. While the chart looks ugly, it does show significant support at August 12, 2010 low of $13.90. This represents a buy level and should be utilized as such.

Gareth Soloway

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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