Description
⋅ DELL reported earnings 27% beyond the estimates and traders reacted. The indicators show
that relative volume was about 10X the running moving average. The RSI dual time frame
indicator ( by Chris Moody) showed a 50-level cross-over on 2/22 one week before earnings.
That was the best early entry and price is up 20% higher since then. The question is whether
is is overextending and so will retrace. The mass index indicator is suggestive of a reversal.
Overall, I will watch price action for bullish continuation while considering the possibility
of a short sell into a retracement if it evolves. No matter volatility is increased I intend
to make the best possible trade in response to what develops.
Comment
⋅ DELL fell a bit with the downturn in tech. Holding and patient.
Comment
⋅ Trade plan moving forward Comment
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