Dell Technologies Inc. (DELL) Elliott Wave technical analysis [Video]
|DELL Elliott Wave Analysis Trading Lounge daily chart.
DELL Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Minute {iii}.
Direction: Upside into wave {iii} of 1.
Details: Looking for a bottom in place in wave (4), which as of right now needs additional confirmation, which could be provided by a classic Trading Levels pattern across MG1 of 100$.
DELL Elliott Wave technical analysis – Daily chart
On the.daily chart, Dell Technologies is in an impulsive within Minute Wave {iii} of 1. The stock is searching for confirmation of a bottom in Wave (4). A key area to watch is MG1 (Minor Group 1) at $100, which could serve as support or a pivot level. A classic Trading Levels pattern around this level would offer additional confirmation that Wave (4) has ended and Wave {iii} is underway.
The upcoming price action is expected to be bullish As wave {iii} unfolds, with an initial target likely pushing past the $100 mark.
DELL Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave (i) of {iii}.
Direction: Completion of wave (i).
Details: Looking for one more leg up towards what appears to be wave v of (i), as we seem to be moving sideways within a triangle.
DELL Elliott Wave technical analysis – One-hour chart
In the 1-hour chart, Dell is in Wave (i) of {iii}, and we are approaching the final leg up within Wave v of (i). The stock appears to be moving sideways, forming a triangle pattern, which often occurs before the last thrust in a wave sequence.
Once Wave (i) is complete, there may be a minor correction before further upside within Wave {iii} resumes. Traders should monitor the breakout from the triangle, as it will likely lead to the completion of this initial wave.
In this Elliott Wave analysis for Dell Technologies Inc. (DELL), we explore both the daily and 1-hour charts to assess the stock's current price action and structure. This provides insight into potential opportunities for traders based on wave positioning and upcoming market moves.
Dell Technologies Inc. (DELL) Elliott Wave technical analysis [Video]
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