Dell Technologies Inc DELL is gearing up to release its second-quarter earnings report this Wednesday. Analysts are eyeing $1.71 in EPS and $24.138 billion in revenues as the company unveils its numbers after the bell.
Over the past year, Dell’s stock has soared by 91.43%, with a solid 46.38% gain year-to-date.
Let’s delve into the charts to uncover the trajectory of Dell’s stock performance and how it aligns with the expectations on Wall Street.
Dell Stock Dynamics Pre-Q2 Earnings
Entering a labyrinth of technical signals, Dell’s stock faces a blend of optimistic and pessimistic cues.
Chart created using Benzinga Pro
Presently valued at $110.20, the stock showcases signs of short-term bullish sentiment by hovering above its 20-day simple moving average at $104.21.
Despite this, trading slightly below the eight-day SMA of $111.12 might introduce minor disruptions to this favorable momentum.
Notably, the 50-day SMA at $121.65 hints at a bearish trend, juxtaposed with the upbeat gesture from the stock being above the 200-day SMA of $107.83.
Chart created using Benzinga Pro
The Moving Average Convergence Divergence (MACD) indicator sits at a negative 1.80, signaling a bearish undertone.
Furthermore, with an RSI of 48.49 indicating a neutral position, and Bollinger Bands spanning from $90.05 to $121.37, there’s a hint of bullish territory as the stock flirts with the upper band.
Amidst some buying pressure painting a rosy picture, the prevailing technical parameters advocate for a prudent approach.
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Bullish Consensus Among Dell Analysts
Ratings & Consensus Estimates: Currently, Dell stock boasts a Buy rating from analysts with a target price of $108.18.
Insights from BofA Securities, Morgan Stanley, and Citigroup suggest a collective price target of $149, showcasing an anticipated upside of 35.94% based on their recent assessments.
DELL Price Action: As of the time of publication, Dell’s stock was trading at $109.05.
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