- Dell Technologies drawing closer to significant resistance at $45.92 with potentially further upside ahead
- Known Fib level $45.5 serving as battleground for bulls and bears
Dell Technologies ended Thursday at $44.18. yesterday it went up to $45.8 only to drop back, yet still managed to close at $45.39.
Dell Technologies hit a significant low of $33.77 around 6 months ago, but has since recovered 30.83%.
Dell Technologies Inc. is 53 cents away from testing key resistance at $45.92. Peaking above this level could inspire market bulls and open the path to further gains. Despite posting gains on yesterday, Dell Technologies slid below its 3 day Simple Moving Average at $44.7 during the last session — an early indicator that a negative trend could be emerging. Dell Technologies's upper Bollinger Band® is at $46, this is a slight indication of a slowdown. On the other hand, note that price action remains constrained around the key Fibonacci level of $45.5 currently serving as resistance
Technical analysis of Dell Technologies price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.
Fundamental indicators – United States Average Hourly Earnings beat the 0.3% projections, with 0.5%.
A look at other technology stocks also showed bullish price action as Apple was up 4.69%. Adobe was up 3.74%. Texas Instruments was up 2.96%.