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Brookelise, I use candle charts. It showed support at 61 & 58, resistance at 63 1/4 & 65. Looks like it is testing 65. Even with 4 point move up yesterday, MACD is still neutral. We will have to see the trend next few days.
I don't see the trend as neutral (but what the heck do I know?). With MACD(13,34,89), the trend is down (below the signal line and moving down). With shorter-term MACD's, such as (5,35,4) and (8,17,9), the MACD has turned back up, but it remains below the signal line. Parabolic SAR, too, indicates that the trend is down. I think DELL needs to close above 65 1/2 before the trend reverses. (Maybe it'll do that today.) Even then, it would have to overcome strong resistance at around 67. I suppose it's a good sign that it rose above the 9-day EMA yesterday (at around 64).
But again, whaddo I know? DELL's gonna do what DELL's gonna do. Maybe some of the Internut money is moving into DELL as a safe haven.
I agree that the rotation will be from Internut to Old Tech. See MSFT and SUNW. I bought after the 4 point drop only because of the 50 day. I look smart today, but with the problems being reported at GTWY, I may just take a profit MOnday. Covnversely, CPQ is doing well. Hmm very confusing.
B: Resistance penetrated... Heading north. Stock successfully tested a near term low on 12-1, reversing the same day. Follow through from there with consolidation on Friday (narrow range day). This is a brief long opportunity in my view. Volume does not indicate major rally forthcoming.
Yes, today it broke through resistance at around 67. Now it faces resistance at about 69, and then at 73 1/2. A lot will depend on the market, of course, which might just decide to head south. Congrats to anyone who saw the low at around 59 and bought back in.
what are you talking about resistance at 67?. There is no resistance at 67! The resistance in the short term is at around 68 look at any chart to see. Where do you get 67 from?? There is a gap at 68 3/8 that needs to be filled and then there is another overhead gap to be filled at 71, those are the short term targets. Dell has become nothing more than a market performer on the upside of late. It is having a lot of trouble going higher which typically means that it will come down faster IMO. Nasdaq hitting records and Dell is well off its highs. In any case, my short term target is 71.
Looks to be starting a trend - 5 dma is crossing up on 25; 5, 13, 34 dma are showing trend up, MACD is crossing 0 up, TSV is up sharply, Volume is low and there is not much accumulation but that is sure to change as the fund managers see fit to put all of their cash to work before the end of the year. Who can fault you for buying dell?
I have had success playing dell on up trends. Some would consider this a safe bet as the market looks "toppy". News on PC's is positive. Only scary news possibility looks to be the Clinton impeachment proceedings and some big-cap coming out with earning warnings. Dell had been quiet which is good in a contrarian way of thinking.
For the resistance at around 67, I used the high of 11/23, which was 67.125. Short term resistance, ya know. It's all subjective -- not unlike pinning the tail on the donkey. I agree with you that DELL should fall faster.