Nov. 21 at 2:16 AM
$DELL is currently trading at
$117.39, which is near the 60D low of
$116.75, indicating a potential support level. The RSI at 4.41 suggests that the stock is heavily oversold, indicating a strong likelihood of a price rebound. The MA30 at 147.21 and MA50 at 143.69 are significantly above the current price, indicating a bearish trend in the short to medium term.
Given the market context, the directional bias is cautiously bullish due to the oversold RSI, but overall trend indicators remain bearish.
Suggested entry is at
$118.00, with a stop loss at
$115.50 to limit potential losses. Target 1 is set at
$125.00, aligning with a potential recovery towards the MA30, and Target 2 at
$130.00, which is a psychological resistance level.
Monitor closely for any changes in momentum.
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