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April 14, 2023
- Dell Technologies hasn't traded above $42.77 for 7 weeks and a half.
- The lower Bollinger Band® is currently at $36.44 while the higher band is at $43.23
Dell Technologies has posted further gains as part of a 5 day trend that has already seen the stock gain $1.64. Yesterday continued on the same track for Dell Technologies — pronounced bullish sentiment in the market helped the multinational technology company to make a notable 1.86% gain yesterday, rising 78 cents and ultimately closing at $42.65.
The stock has been trending positively for about a month. Dell Technologies hit a significant low of $33.77 around 6 months ago, but has since recovered 24%.
Chart analysis indicates Dell Technologies Inc. could be slowing down soon as it approaches resistance at $43.02. Of course, crossing it might suggest further gains are ahead. Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $43.23, thereby suggesting that Dell Technologies is becoming overvalued.
Notwithstanding Dell Technologies's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Fundamental indicators – United States Producer Price Index fell short of the 0.1% projections, with new data of -0.5%.
A look at other technology stocks also showed bullish price action as Apple gained 3.41%, as it traded at $165.56. Microsoft added 2.24% to its value, and traded at $289.84. Adobe gained 2.41%, as it traded at $378.8.
Upcoming fundamentals: today at 12:30 UTC data for United States Core Retail Sales will be released, with an expected decline to -0.3% from the preceding figure of -0.1%.
