August 29 Chart of the Day - Dell Technologies, Inc.

Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews

Dell Technologies Inc. (DELL) is a US multinational technology company headquartered in Round Rock, Texas. It was formed as a result of the September 2016 merger of Dell and EMC Corporation.

Dell's products include personal computers, servers, monitors, computer software, computer security and network security, as well as information security services. Dell typically ranks in the top half of the Fortune 100 list and has been mentioned in recent headlines for their part in providing artificial intelligence (AI) servers to NVIDIA among other top industry names.

The company reports earnings after market close on Thursday so we wanted to review their chart from a price action technical analysis perspective.

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Monthly Chart 

On the monthly chart we can see that after setting its $179.70 all time high (ATH) earlier this spring price fell dramatically over the next few months all the way down under $90 earlier this month.

Since then, price has bounced up rapidly and seemingly deciding whether to continue upwards or fall back to the downside.

Weekly Chart

 
On the weekly chart we can see with much more clarity the fall from ATHs, and the recent bounce back up.  The bulls may be attempting to make a series of higher highs and higher lows.

Trading around $111.75 earlier today price may be attempting to establish its next higher high.

The market is implying about a $11.90 move in either direction as marked on the weekly chart by this Friday August 30.  Share price has risen during the week of earnings 4 of the last 8 quarters.

Could earnings be the catalyst that pushes price to its next higher high or will price continue fading?

Only time will tell for sure what price will do next...

We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.

Armed with precision oriented charts like these both traders and investors can formulate their respective plans. 

So what's next?