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April 10, 2023
- Dell Technologies overcomes resistance at $40.6
- Market price rises 59.5 cents beyond key Fib handle of $40.7
After ending Thursday at $40.23, the multinational technology company went up to $41.3 only to drop back some of the way. It is now trading around $41.3 as it reaches the end of the trading session.
The multinational technology company is now trading 19.13% above the significant low ($33.77) it slumped to 5 months ago.
Dell Technologies Inc. broke through the $40.6 resistance, climbing 69 cents above it. Dell Technologies made an initial breakout above its 200 day Simple Moving Average at $40.97, a potential indicator of a newly emerging bullish phase. Price action overcame a known Fibonacci resistance level at $40.7 by around 59.5 cents with prices hammering out a $39.95 – $41.3 session range. On the other hand, note that Dell Technologies's upper Bollinger Band® is at $41.71, this is a slight indication of a slowdown.
With all probabilities considered, today's gains in Dell Technologies have only added further momentum to existing technical factors favoring greater bullish sentiment in the days to come.
This rally in Dell Technologies's share price coincides with other technology stocks as AMD is trading at $95.51 after ending Thursday's session at $92.47 (up 3.29%).
At the same time, Apple is trading around $161.63 (down 1.84%). Oracle is down to $93.64, losing 1.97%, after ending Thursday at $95.52.
Upcoming fundamentals: United States EIA Short-Term Energy Outlook is scheduled for tomorrow at 16:00 UTC.
