Stock Technical Analysis: Could DELL Burst Out of Bull Flag?

Written by Taurus on November 10, 2009

Here is a stock technical analysis on one of the biggest IT company dealing with development, manufacturing, marketing, sales, and support of computer systems and services worldwide - DELL Inc. (DELL).

Stock Technical Analysis: DELL

Stock Technical Analysis: DELL

DELL has been trending up steadily since March this year, and is currently about to break out of a Bull flag (shown in black). A buy signal shall be initiated when this stock manages to break out of the bull flag with increased volume.

However, do note that there is a strong resistance level at $17.15. Prices have tested and failed to break above this level twice since August 2009. It also acted as a resistance level back in September 2008.

There is support at $14.22 level, however, we will not attempt to short this stock even if it manages to break below this level, as it could still be trapped within the bull flag. Good luck!


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