Dell Technologies builds bearish momentum towards key support at $46.11

• Next support is currently $1.42 away at $46.11
• Dell Technologies's upper Bollinger Band® is at $48.21 which indicates a further downward move may follow.

Though in the midst of a 7 day uptrend, gaining a total of 6.33%, ($3.05), The prevailing bullish trend is beginning to fade following today's downbeat session. The multinational technology company dropped 0.46% early on and traded close to the $47.53 level.

The past 3 months have been positive for the renowned PC seller as it added 14% compared to its 3-month low of $33.77.

A study of Dell Technologies's chart reveals various key levels to watch: Dell Technologies Inc. could begin to recover as it approaches significant support, now $1.42 away from $46.11. Dipping below could be an indication that further losses are ahead. Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to momentum evaluation, the Relative Strength Index indicates Dell Technologies is in an overbought condition. Asset volatility analysis shows that Dell Technologies's upper Bollinger Band® is at $48.21 which indicates a further downward move may follow.

Overall, while Dell Technologies has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

On the other hand, positive performances could be seen by looking at other technology stocks as Intuit was up 1.81%. Microsoft traded at $321.18 after closing today's trading day at $318.34 (up 0.89%). AMD traded at $108 after closing today's trading day at $105.82 (up 2.06%).

Upcoming fundamentals: United States New Home Sales (Apr) is expected tomorrow at 14:00 UTC.