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March 05, 2023
- Nearest support line of $38.74 is only $1.05 away
- Falling prices have precipitated Dell Technologies's approach to its lower Bollinger Band® at $39.55
Dell Technologies's bearish run has lasted 14 days so far (-$3.23). Friday's session continued down the same path: grinding lower but with no clear-cut direction, the multinational technology company closed the session at $39.79 after forming a distinct $38.82 – $41 range.
The multinational technology company is now trading 18.95% above the significant low ($33.77) it slumped to 4 months ago.
Dell Technologies Inc. could begin to recover as it approaches significant support, now $1.05 away from $38.74. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, Dell Technologies peaked above its 50 day Simple Moving Average around $40.93 — typically an early indicator of a new bullish trend beginning to emerge. Dell Technologies's lower Bollinger Band® is at $39.55, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems Dell Technologies is set to appreciate despite today's setback.
On the other hand, positive performances could be seen by looking at other technology stocks as Apple gained 3.51%, as it traded at $151.03. Sony Group Corporation was up 2.88%. Adobe traded at $344.04 after closing Friday's trading day at $333.5 (up 3.16%).
