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12/01/98 Dell Computer (DELL) Points to watch: Dell has broken below Gann support at 66 and its 55 day weighted moving average at 63.12. Stock closed Monday at important Fibonacci support (the 38% retracement level). If the stock breaks below 0.81 then the next downside support is at 57-57.5. Money flow has turned decidedly negative. Daily OBV has turned down. Weekly MACD has given a sell signal. Weekly stochastics has fallen below 70 from overbought levels, giving a sell signal. Daily RSI has shown strong divergence since July, reaching lower peaks on each of the last 4 higher peaks by price (1,2,3,4 on price chart and on RSI subgraph). Short on a break below 60.81, placing a stop near resistance at 66. |
