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March 16, 2023
- The CCI indicator has fallen below -100 – a bearish signal
Dell Technologies moves 0.11% to close at $37.51 yesterday.
On a negative trend for around 30 days. The renowned PC seller has shed 14.33% over the past three months.
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.
Despite the market lacking direction, technical chart analysis strongly suggests Dell Technologies is positioned for a downward move in the near term.
Meanwhile, mixed performances were seen by other technology stocks as Accenture plc Class A (Ireland) went down 2.5%, closed at $252.48. Microsoft added 1.78% to its value, and traded at $265.44. TSM closed at $86.7 (down 2.9%).
Upcoming fundamentals: United States Philadelphia Fed Manufacturing Index (Mar) is expected today at 12:30 UTC.
