- Dell Technologies is eyeing $40.38 as its nearest support level
- Bollinger analysis indicates upper Band® is at $41.51
While Dell Technologies is on a 9 day bullish trend, Yesterday's session put the brakes on the ongoing uptrend — a tough start to the session saw price action reach a low of $40.34 before closing at $40.8.
The renowned PC seller is now trading 21% above the significant low ($33.77) it slumped to 5 months ago.
Dell Technologies Inc. is oscillating around the $40.38 level serving as support. Dell Technologies made an initial breakout above its 200 day Simple Moving Average at $41.04, a potential indicator of a newly emerging bullish phase. Despite this, Dell Technologies's upper Bollinger Band® is at $41.51, suggesting that a downward move may follow.
With market volatility ebbing, the current technical outlook indicates Dell Technologies will break higher above its recent ranges in the immediate future.
Fundamental indicators – United States Crude Oil Inventories released earlier showed a marked improvement to -3.74 million from the preceding data of -7.49 million, but fell short of the -2.33 million figure forecast by a consensus of market analysts.
Meanwhile, mixed performances were seen by other technology stocks as Accenture plc Class A (Ireland) slips 1.58% yesterday to close at $285.84. AMD went down 3.45%, closed at $95.87. TSM slips 2.14% yesterday to close at $92.17.
Upcoming fundamentals: as things stand, upcoming United States Non Farm Payrolls data is projected to fall short of market expectations with newly published data of 240,000, following on from the preceding figure of 311,000. New data is set to be published tomorrow at 12:30 UTC.