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A very red day for Dell Technologies Inc. stock price after a -5.18% fall in the Thursday trading session

StockInvest.us, 3 weeks ago

Dell Technologies Inc.

The Dell Technologies Inc. stock price fell by -5.18% on the last day (Thursday, 30th May 2024) from $179.21 to $169.92. During the last trading day the stock fluctuated 8.32% from a day low at $165.11 to a day high of $178.84. The price has risen in 7 of the last 10 days and is up by 13.92% over the past 2 weeks. Volume has increased on the last day by 14 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 36 million shares were bought and sold for approximately $6.10 billion.

On May 29, 2024, it was reported that Bank of America Securities gave DELL a "Buy" grade with a "hold" action.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 31.82% during the next 3 months and, with a 90% probability hold a price between $175.34 and $237.17 at the end of this 3-month period.

Dell Technologies Inc.

The Dell Technologies Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $160.57 and $134.06. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -5.18%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Dell Technologies Inc. finds support from accumulated volume at $166.08 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $13.73 between high and low, or 8.32%. For the last week, the stock has had daily average volatility of 7.86%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Dell Technologies Inc. stock to perform well in the short-term.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Check full Dell Technologies Inc. forecast and analysis here.