$DELL - Page Up or Page Down?
The bull run that 
DELL has experienced since March of last year came to an abrupt stop end of May this year, with an ATH. Since, the stock has been falling. It has formed a downward channel, although with price rising lately. If you look closely, you will see that the rise was only for about a week, and it has since consolidated. It is now approaching the roof of the channel, as well as an area of resistance from April. Recent price action can be argued to form a Flag formation, with trend continuation (down) as the most likely outcome. Yesterday, Aug 30, price gapped up on the open and formed a hammer candle. This is a bullish candle, and the gap makes it even more bullish. Also, volume was higher than recent average the last couple days, reinforcing the move, and MACD is on the rise. We can expect a bounce off the falling trend line, however I believe this will only be a pullback, before a move up and breach of resistance. Entry would be confirmation of resistance breach, in the form of a big green candle, or a few consecutive green candles, preferably with solid volume. Target would be $136, where we had a gap down back in mid July and price might be looking to fill the gap. This is also an area of resistance. Stop loss below recent swing low, $107.
DELL has experienced since March of last year came to an abrupt stop end of May this year, with an ATH. Since, the stock has been falling. It has formed a downward channel, although with price rising lately. If you look closely, you will see that the rise was only for about a week, and it has since consolidated. It is now approaching the roof of the channel, as well as an area of resistance from April. Recent price action can be argued to form a Flag formation, with trend continuation (down) as the most likely outcome. Yesterday, Aug 30, price gapped up on the open and formed a hammer candle. This is a bullish candle, and the gap makes it even more bullish. Also, volume was higher than recent average the last couple days, reinforcing the move, and MACD is on the rise. We can expect a bounce off the falling trend line, however I believe this will only be a pullback, before a move up and breach of resistance. Entry would be confirmation of resistance breach, in the form of a big green candle, or a few consecutive green candles, preferably with solid volume. Target would be $136, where we had a gap down back in mid July and price might be looking to fill the gap. This is also an area of resistance. Stop loss below recent swing low, $107.Note
Dell broke out of the channel 2 weeks ago, and is moving steadily towards the target. RSI is approaching overbought levels, but has stayed in this area for longer periods of time in the past. 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.