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March 19, 2023
- The CCI indicator has fallen below -100 – a bearish signal
- Lower Bollinger Band® at around $36.08
During Friday's session, Dell Technologies toiled and struggled for upward momentum before closing at $37.22. By the close, the the multinational technology company suffered a 83 cents or 2.18% loss.
On a negative trend for around a month. The renowned PC seller has shed 14.17% over the past three months.
Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that Dell Technologies's lower Bollinger Band® is at $36.08, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
All in all, the technical analysis suggests Dell Technologies has no clear-cut direction.
Dell Technologies was not the only decliner in the technology sector; Accenture plc Class A (Ireland) lost 1.15% Friday and closed at $250.
On the other hand, positive performances could be seen by looking at other technology stocks as Microsoft traded at $279.43 after closing Friday's trading day at $276.2 (up 1.17%). Adobe was up 1.37%.
