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Is Dell Inching Toward a Breakout?

Long
NYSE:DELL   Dell Technologies Inc
Dell Technologies is a blast from the past. At one point it was one of the top technology stocks, but now it seems to get very little interest.

Still some interesting things are happening on the chart.

First is the pair of bullish gaps after strong earnings reports in May and August.

Next is the ascending triangle that formed since the last gap higher. DELL has made steadily higher lows while holding below $68.50. However prices closed above that line in the last few sessions. Is a breakout coming?

Looking to the left we can see resistance is close to DELL’s previous all-time high of $70.55 from May 2019.

The fundamental story is also interesting as coronavirus and remote work fuel demand for PCs and laptops. Just yesterday, for instance, tech researcher Gartner said third-quarter PC shipments rose to their highest levels in years. DELL is also spinning off VMware , another potential positive that could result in higher valuations for each standalone company.

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