Technical Analysis of Financial Markets

Wednesday, June 21, 2006

Dell Inc. (DELL) - Possible Double Bottom

Calling the bottom in Dell is like catching a falling knife. However, with stochastics oversold and looking to turn higher, it seems that a bullish Double Bottom pattern is forming. A break above $26 dollars completes the formation with support at the 50-day moving average. From then on, a possible price projection of $28.50 may provide the next level of resistance. Invalid pattern if close below support at $23.50.

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