Bearish session for Dell Technologies insufficient to test key support at $36.09

• Nearest support line of $36.09 is only 63 cents away
• Falling prices have precipitated Dell Technologies's approach to its lower Bollinger Band® at $36.44

Dell Technologies's bearish run has lasted 3 days so far (-97 cents). Friday's session continued the recent downtrend: after closing the previous trading day at $37.8 and dropping to $36.28, the multinational technology company closed Friday at $36.72. By the end of the session, Dell Technologies gave up a total of 2.86%.

The renowned PC seller has shed 14% over the past three months.

Concerning technical analysis and more specifically, trend indicators, 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. According to momentum evaluation, the Relative Strength Index indicates Dell Technologies is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. According to asset volatility analysis, Dell Technologies's lower Bollinger Band® is at $36.44, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Support/Resistance levels obtained from chart analysis indicate that although Dell Technologies is pointing down today (was as low as $36.28), it's climbing away from the $36.09 support line and is now 63 cents above it.

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) falls 2.62% Friday to close at $259.76. Oracle dips 3.22% Friday to close at $86.87. Intuit went down 2.96%, closed at $404.58.