THE CONSISTENT TRADES analyze DEL as a bearish/weak fundamental stock and therefore would be traded only in a short position.
DELL is in a symmetrical triangle and is near the end of it which could indicate a strong move sooner than later. Break down below the red dotted line would trigger a short position but only if the market turns negative and start its leg down.
Volume is more bearish than bullish as drops are on stronger volume than those on a green day.
Price is below all major MA which is bearish, also all MA are very close to each other signaling a strong move soon.
RSI is neutral.
MACD is also neutral and is also in a symmetrical triangle.
Overall: DELL is holding inside of a symmetrical triangle due to the strong move up on the market. With the likely starting of the leg down on SPY, there is a high chance DELL will break down from a symmetrical triangle and trigger a short position. For the short position, we should wait for the creation of a leg down on major indices or SPY. Only a strong and powerful drop in volume here without SPY in red would indicate a short-sell position.
DELL is in a symmetrical triangle and is near the end of it which could indicate a strong move sooner than later. Break down below the red dotted line would trigger a short position but only if the market turns negative and start its leg down.
Volume is more bearish than bullish as drops are on stronger volume than those on a green day.
Price is below all major MA which is bearish, also all MA are very close to each other signaling a strong move soon.
RSI is neutral.
MACD is also neutral and is also in a symmetrical triangle.
Overall: DELL is holding inside of a symmetrical triangle due to the strong move up on the market. With the likely starting of the leg down on SPY, there is a high chance DELL will break down from a symmetrical triangle and trigger a short position. For the short position, we should wait for the creation of a leg down on major indices or SPY. Only a strong and powerful drop in volume here without SPY in red would indicate a short-sell position.
Consistency is the key of success....
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.
Consistency is the key of success....
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.