Dell Technologies now only 47 cents from key resistance at $53.57

• $53.14 is Dell Technologies's highest rate in 1 year.
• The lower Bollinger Band® is currently at $45.45 while the higher band is at $53.66

Dell Technologies has posted further gains as part of an 8 day trend that has already seen the stock gain $2.44. Yesterday's session pointed in the same direction — the multinational technology company went up to $53.1, gaining 2.57%.

The stock has been trending positively for about 29 days. Approximately a day ago, the renowned PC seller reached a significant high of $53.1 but has struggled to hold onto its gains and declined 2.5% since then.

Analysis of Dell Technologies's recent price action suggests Dell Technologies Inc. is 47 cents away from testing key resistance at $53.57. Peaking above this level could inspire market bulls and open the path to further gains. Trend-following investors 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. Momentum evaluation shows that according to technical analysis of Dell Technologies's Relative Strength Index (RSI), the market is currently overbought. Analysis based on the asset volatility indicates that Dell Technologies's upper Bollinger Band® is at $53.66, 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 – data from United States concerning Pending Home Sales was released yesterday at 14:00 UTC. Newly published figures emphasized continued decline from last month's figure of -0.4% to -2.7% this month.

A look at other technology stocks also showed bullish price action as Accenture plc Class A (Ireland) was up 2.19%. IBM traded at $134.06 after closing yesterday's trading day at $131.76 (up 1.75%).

While Dell Technologies was bullish yesterday, the following technology stocks underperformed: Intel went down 1.97%, closed at $33.57.

Upcoming fundamentals: United States Core PCE Price Index (MoM) (May) will be released today at 12:30 UTC.