FWIW, I've just put an updated chart for DELL up on coolhistory.com
Here are some of the things I see in this chart:
DELL is retreating from strong resistance at 95. There _may_ be minor support around 85, I guess we'll find out tomorrow. DELL is still 16% above its 50-day moving average (very high!) and a whopping 58% above its 200-day moving average. Today, DELL closed below a mid-term uptrend line that started back on April 6th. A longer term uptrend line (started back in December) is still intact, but that uptrend line is 18% below DELL's current price.
On the indicator side of things, the MACD indicator gave a strong sell signal yesterday by crossing its dotted signal line. MACD is well above 5.0 - strongly overbought (bearish) territory. Notice that the last time MACD was near 5.0 (around March 6th), the stock went sideways for more than a month.
The On Balance Volume (OBV) indicator combines price action with volume action. Notice that for most of the recent rally, OBV has moved sideways instead of mirroring the price action. This is an indication that the most recent rally is (was?) weaker than normal. Also notice that OBV has been above its 50-day moving average since Jan 12th(!), but it _may_ cross below it very soon, giving a short term sell signal.
So technically, IMHO, there's a fair amount of negatives for DELL right now. If you're long DELL, watch for support from either the long-term uptrend or the 50-day moving average in the coming weeks.
Disclosure: I'm neither long nor short DELL at this time.
Chip
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