DELL daily - is inside of a symmetrical triangle below BigRed (200 days MA) which is bearish. It's found resistance at BigRed the last 4 times and got rejected which is also bearish.
Volume is neutral to bearish because the start of this leg up was on weaker volume.
Price is coiling between/inside/around 8, 20, and 50 days MA which indicates that DELL will soon move very hard.
RSI is pointing down which could be bearish.
MACD histogram tick lower (the day is not yet closed) while the MACD line point down which in case of the day finished in red could be bearish.
Overall: DELL is inside this big symmetrical triangle. A daily close below the blue dotted line would trigger a short position while a stop loss would be 1 penny above the upper trend line on the day it breaks out of the triangle. As this is bearish fundamental stock at the moment, I would trade it only to the short side.
Volume is neutral to bearish because the start of this leg up was on weaker volume.
Price is coiling between/inside/around 8, 20, and 50 days MA which indicates that DELL will soon move very hard.
RSI is pointing down which could be bearish.
MACD histogram tick lower (the day is not yet closed) while the MACD line point down which in case of the day finished in red could be bearish.
Overall: DELL is inside this big symmetrical triangle. A daily close below the blue dotted line would trigger a short position while a stop loss would be 1 penny above the upper trend line on the day it breaks out of the triangle. As this is bearish fundamental stock at the moment, I would trade it only to the short side.
Comment:
On Friday the price gapped down and then rally up. Therefore trade was not triggered. This indicates the relative strength of the stock. Only a strong down move with a big volume would trigger a short position or a day close below that low would trigger a short position.
Consistency is the key of success....