Dell Technologies hones in on key resistance at $48.75

• $2.17 is Dell Technologies's largest daily jump in 5 weeks.
• The lower Bollinger Band® is currently at $43.4 while the higher band is at $48.36

Pronounced bullish sentiment in the market helped the multinational technology company to make a notable 4.73% gain yesterday, rising $2.17 and ultimately closing at $48.08.

The stock has been trending positively for about 29 days. The past 3 months have been positive for the multinational technology company as it added 16.4% compared to its 3-month low of $33.77.

Despite posting gains on yesterday, Dell Technologies Inc. slid below its 5 day Simple Moving Average at $46.93 during the last session — an early indicator that a negative trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $48.36, thereby suggesting that Dell Technologies is becoming overvalued. Dell Technologies could be slowing down soon; it is getting close to the resistance line and is now at $48.75, only 67 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

Technical analysis of Dell Technologies price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.

Fundamental indicators – United States Pending Home Sales fell short of the 0.5% projections, with new data of 0%.

This rally in Dell Technologies's share price coincided with other technology stocks as NVIDIA added 24.37% to its value, and traded at $379.8. TSM gained 12%, as it traded at $100.95. AMD added 11.16% to its value, and traded at $120.35.

Upcoming fundamentals: today at 12:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to 0% from the preceding figure of 0.3%.