Dell pierces downward trend line - Analysis - 23-11-2022

Dell's stock advanced in the intraday levels after reporting quarterly results, with profits beating estimates, sending the stock up 6.77% in the last session, or 2.78 points, and settling at 43.85, with trading volumes surpassing 12.5 million shares, above 10-day averages of 4.2 million shares. 

Technically, the stock is benefiting from support as it trades above the 50-day SMA, piercing the downward short-term trend line, with positive signals from the RSI, managing to vent off overbought saturation.  

Therefore we expect more gains for the stock, targeting the pivotal resistance of 49.24, provided the initial resistance of 43.43 was pierced. 

Expected trend for today: Bullish