DELL Drops?
DELL is showing weakness. It may be lagging in its sector. With Chip stocks like AMD, NVDA, and SMCI selling off over the past weeks it comes as no surprise that other related names in the sector are showing the same signs. DELL is showing Bearish Divergence on a weekly chart. Divergences can show weakness or strength building in the market. When price makes new highs but oscillators like RSI (Relative Strength Index) or MACD (Moving Average Convergence/Divergence) make lower highs, weakness is presenting itself.
This has moved some already but definitely has more room to go given the current market sentiment. Easy ride to $100 maybe lower, choose your contracts carefully. Observe the Volume and Open Interest on the option chain...Hint: Check June's and compare it to the rest.
Join me.
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.