- Dell Technologies is eyeing the $43.42 support level
- The CCI indicator stands above +100
The renowned PC seller found support around the $43.58 level, after closing Friday at $44.63 and dropping by 2.35% yesterday.
The stock has been trending positively for about a month. The multinational technology company is now trading 32.16% above the significant low ($33.77) it slumped to a month ago.
The Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Dell Technologies could begin to recover as it approaches significant support, now 16 cents away from $43.42. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems Dell Technologies might start pointing upward in the short term.
Fundamental indicators – United States CFTC Crude Oil speculative net positions released yesterday at 19:30 UTC with a figure of 252,500, while the previous figure was 278,300.
Dell Technologies was not the only decliner in the technology sector; Apple drops 2.63% yesterday to close at $148.11. Microsoft went down to $241.76, losing 2.32% after it closed at $247.49 yesterday. Qualcomm went down to $119.54, losing 3.17% after it closed at $123.45 yesterday.
Upcoming fundamentals: United States Pending Home Sales is projected to outperform its last figure with -5%. It previously stood at -10.2%; data will be released tomorrow at 15:00 UTC.