Dell Technologies builds bearish momentum towards key support at $44.22

• Next support is currently 48 cents away at $44.22
• Dell Technologies looks below $44.74 (10 day Simple Moving Average) as signpost for new negative trend

Having fallen 19 cents in 4 days, Yesterday's session continued down the same path: Dell Technologies shed 2.47%, falling to $44.7.

6 months ago, the multinational technology company fell to a low of $33.77 but has since recovered 35.71%.

Dell Technologies Inc. made an initial break below its 10 day Simple Moving Average at $44.74, a possible indication of a forthcoming negative trend. On the other hand, note that Dell Technologies could begin to recover as it approaches significant support, now 48 cents away from $44.22. Dipping below could be an indication that further losses are ahead.

Looking forward, Dell Technologies is poised to extend its strong downtrend and continue declining.

Fundamental indicators – United States Producer Price Index released earlier showed a marked improvement to 0.2% from the preceding data of -0.4%, but fell short of the 0.3% figure forecast by a consensus of market analysts.

Dell Technologies was not the only decliner in the technology sector; Intel went down to $28.86, losing 3.7% after it closed at $29.97 yesterday. Qualcomm closed at $104.06 (down 2.25%).

On the other hand, positive performances could be seen by looking at other technology stocks as Accenture plc Class A (Ireland) added 1.26% to its value, and traded at $272.27.