???? OVERSOLD ?????????????????????????????
DELL has 8 down days in a row,,,Not to be found for quite sometime in the past,,,No and I repeat NO 8 downers in a row over the past year,,that including the 98 SEPT/Oct...time frame...when panic was all about....
The present chart on DELL is showing itself as more oversold then the OCT. 7th time,,which was the only other time over the last year that DELL showed it's share price outside the trading envelope..
2nd inside day in a row,,, which can indicate a possible change in the short term direction,,,must warn that this is not by far a perfect indicator, but does pan out at times...
???BUYING OPPORTUNITY or TIME TO BAIL????
EVEN if DELL is in a long term downtrend ,,,a rally to the 50 dma off this oversold condition should be the minimun expectation over the next two weeks...
GOOD LUCK |
