With Dell’s earnings disappointment this morning, let’s pull the perspective back to the weekly timeframe to put this drop into perspective, and then look at a confluence resistance zone overhead… as well as a confluence support zone underneath. Which will hold?
A reader asked me to take a look at Dell Computers Inc (DELL) and I thought it had an interesting pattern certainly worth showing. Let’s take a look at the Weekly and Daily technical structure of DELL.
The selling pressure was not contained today to Financial stocks – the NASDAQ lost 4.94% today, the greatest decliner of the four major US Equity Indexes, followed closely by the Russell 2000 (off 4.82%). Many technology and small-cap stocks fell greater than 5.00% today. Let’s take a quick snapshot of Apple Inc (AAPL) and view…
What we may have missed recently is the weakness in technology related companies over the last week which was particularly punishing for most tech companies that started roughly at the same time DELL missed earnings and gapped lower. Let’s look at the XLK Technology SPDR and Google for some insights. XLK Technology Sector SPDR Daily:…
Dell Inc (DELL) missed earnings last week and investors punished the stock by sending shares lower, breaking the daily uptrend and numerous levels of support. Let’s take a quick look at the charts to see what we can learn from these developments. Dell Daily: Prior to the earnings announcement plunge, price had completed a “Three…