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I agree with you about the pullback. However, there's something else interesting about those bands. Notice how breakouts occur when the bands contract. The bands are somewhat contracted now, so while I believe the stock's in for a short-term pullback, it could move higher after that. But the contraction in the bands can also signal a breakout to the downside. With a stock like DELL, which is trending up over the long term, this is less likely.
I will. Uptrend has been broken and there are still gaps in the 64 to 68 range. Dell has a good history of filling its gaps. Does not mean this can't go higher. However, I like to play the percentages. I look for the 64-68 gaps to be filled at some point but cannot predict when. I will reevaluate when gaps are filled. There are better buys out there right now than this one IMO of course.
It looks as though my big picture prediction for DELL is right on track so far. We have in January broken out of a long consolidation and are due for roughly 6 months of generally steady upward movement if we are to stay on the long term trendline and patterns. Message 6886828 Eric
At some level I am amazed myself at how accurate that post is turning out to be. On the other hand its really only DELL that is so amazing because it is so predictable long term. DELL 200 by June seems a lot more easy to imagine now than when I made that prediction with DELL at 66. Very short term I think that DELL is overbought as it has risen well over its moving averages. At some level I hope that it is overbought because I made the mistake of selling Feb 95 calls against my position last week when DELL was below 80, and sold my trading shares @90. I guess maybe "never sell dell" applies even to way out of the money covered calls. Time to "buy more dell". Eric
John, TA is only half of the picture. The other half is knowing where DELL is in it's rhythm, historical pattern in relation to current environment. This stock has quite a ways to climb before earnings 16 Feb., IMHO.
Any additional information??? Dell will continue to surprise the street as usual. They will continue until the YK2 problem is over. Technical charts for other stocks are looking good. However, any negatives on Dell's performance will upset the whole market. I am surprise that one stock has so much influence on the market. (Does Dell have Greenspan as a Board of Director???? :) joking....)
Ok folks, time for some TA on DELL again! Looks like we need it after every earnings announcement. Heres my shot: DELL is currently bouncing against the 50dma with the 200dma around 60. DELL never stays below the 50dma for very long, actually most often it bounces right off it and never reaches the 200dma. Support looks pretty thick to me in the 73-80 range and of course we are short term extremely oversold but on a three week downtrend. Lastly there is a chance that DELL pegged at exactly 80 Friday due to options expiration. My conclusion is that DELL is likely to continue to find enough support in the high 70's to ride out the rest of the tech correction between say 78 and 85. This is of course assuming we dont have more nasty bear like last fall in which case DELL will easily see low 70's with an outside shot to the mid 60's. This correction has bought us so far right back inline with the near flawless long term and medium trend up so longer term I see back to 100 within 2-3 months. Anything worse than what I have describe means that DELL has finally lost its groove, until then we are fine. Lets have some opinions! Eric