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May 19, 2023
- Dell Technologies drawing closer to significant resistance at $47.74 with potentially further upside ahead
- The lower Bollinger Band® is currently at $41.59 while the higher band is at $47.74
Dell Technologies has posted further gains as part of a 6 day trend that has already seen the stock gain $1.15. Dell Technologies lived up to expectations yesterday by maintaining its set course — an influx of buyers helped the multinational technology company to end the session higher around $47.12, while establishing a $45.67 to $47.31 session range yesterday.
The multinational technology company is now trading 35.77% above the significant low ($33.77) it slumped to 7 months ago.
A study of Dell Technologies's chart reveals various key levels to watch: Dell Technologies Inc. could be slowing down soon as it approaches resistance at $47.74. Of course, crossing it might suggest further gains are ahead. Trend analysis indicates that investors are seeking long positions as Dell Technologies price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that Dell Technologies's upper Bollinger Band® is at $47.74, this is a slight indication of a slowdown.
Notwithstanding Dell Technologies's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Fundamental indicators – United States Existing Home Sales (Apr) came out at 4.28 million, while a consensus of analysts was expecting 4.3 million.
This rally in Dell Technologies's share price coincided with other technology stocks as Sony Group Corporation was up 3.75%. Intuit was up 3.66%. ServiceNow was up 3.5%.
Upcoming fundamentals: United States Fed Chair Powell speech is expected today at 15:00 UTC.
