Volatile ride for Dell Technologies Inc. stock price on Friday moving between $131.02 and $144.78

StockInvest.us, 1 month ago

Dell Technologies Inc.

The Dell Technologies Inc. stock price fell by -17.87% on the last day (Friday, 31st May 2024) from $169.92 to $139.56. During the last trading day the stock fluctuated 10.50% from a day low at $131.02 to a day high of $144.78. The price has risen in 7 of the last 10 days but is still down by -4.61% for this period. Volume has increased on the last day by 29 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, 64 million shares were bought and sold for approximately $8.99 billion.

On May 31, 2024, it was reported that Cowen & Co. gave DELL a "Hold" grade with a "hold" action.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $133.44 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 31.51% during the next 3 months and, with a 90% probability hold a price between $175.48 and $237.52 at the end of this 3-month period.

Dell Technologies Inc.

The Dell Technologies Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $159.47. On a fall, the stock will find some support from the long-term average at approximately $134.50. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 -22.12%. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $128.58 and $127.16.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Dell Technologies Inc. finds support just below today's level at $128.58. If this is broken, then the next support from accumulated volume will be at $127.16 and $121.78.

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 $13.76 between high and low, or 10.50%. For the last week, the stock has had daily average volatility of 8.29%.

Dell Technologies Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Check full Dell Technologies Inc. forecast and analysis here.