Technical Pulse: Dell Technologies Inc. November 25, 2021 394

Dell Technologies Inc (US: Dell) uptrend has been strong since March 2020 and the technicals indicate a further bullish continuation:

 

  1. The pennant formation is indicative of a strong bullish continuation.
  2. The resistance level at US$57.54, which is also the 161.8% Fibonacci expansion level of wave (1)-(3), has been tested multiple times and has therefore been weakenedin the process.
  3. The morning star formation has closed above both the Tenkan-Sen and Kijun-Sen.
  4. The on-balanced volume uptick confirms the bullish uptrend of Dell.

 

 

*Expected timeline of the trade is 15 weeks from the date of report issuance.

 

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Blackline = 26 periods Chikou Span. Lagging line

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