June 24, 2010
Shares of Dell Inc (NASDAQ: DELL) have pulled back this week from what appeared to be the start of a nice rally.
With highs at about $14.25, Dell has declined some 3% by the close on Wednesday, June 23.
Look for the advance to resume in coming days with a target from $15.00 to $15.60 a share.
If Dell reaches the $15.60 level, look for profit taking to again slow things down. A solid close above this level would likely push prices up to the $17.00 level in coming weeks.
If Dell pulls back from current levels, the $13.20 level becomes critical. A close below $13.20 could result in a test of the prior lows around $12.50 a share.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
Disclosure: no position