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Technology Stocks : Dell Technologies Inc.

DELL 125.97

-1.0%

Nov 25 3:59 PM EST

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To: Patrick E.McDaniel who wrote (371)	11/4/1996 6:18:00 PM
From: jim kelley	of 176387

Patrick, the TA's see the following: They think that DELL is forming a "head and shoulders" configuration. This is equivalent to saying it has been range bound. This is generally interpreted as bearish. They also think that DELL has gotten too far ahead of its 180 DMA. (That is why it is range bound, probably.) However, their view seems to be that DELL will rally after the semiconductor BTB and make a new high. Then there will be profit taking after the earnings announcement. Presumably, the split will help things. So, the TA's would like to see it break out the range solidly! They probably do not care in which direction since they can short as well as go long. After that based on the last 5 years of cyclicity they expect the stock to retreat to 40/share (proportionate to last year). The real question is what will market demand be after Christmas? Some people believe that this year is more like 1993 than 1995. Food for thought! Jim K.

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