Marvell Technology Group (MRVL) held its own after the post Fed policy meeting market sell-off. That was until yesterday. MRVL saw some very intense selling pressure as the trading session unwinded. The stock took a sharp decent in the middle of the day, creating a downtrend line. MRVL traded under downtrend line resistance, but was able to break out of the down trend one hour before the closing bell.

After MRVL broke through downtrend line resistance, the resistance turned into support. The stock was still fairly weak, but the fact that it found support after the beating it took may prove that it will be able to push higher.  A strong open will likely mean the stock will put in a positive day. A break through new found support back into the downtrend line will likely mean MRVL will continue lower.

Eastman Kodak (EK) has been in the bears' grip for some time now. The stock has moved sharply lower and is approaching a point at which it may be a good buying opportunity. RSI levels are very low, and there are two significant support levels at 24 and 23. The combination of these technical indicators leads me to believe that a long position may be in order.

Andy Swan is co-founder and head trader for DaytradeTeam.com.  To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.