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  1. #1
    Specialist Member RCox's Avatar

    Dell Earnings to Threaten Critical Support !!!

    Dell Earnings to Threaten Critical Support

    Dell earnings were a massive disappointment, with the company reporting 79% drop in net profits. This is another indication that sales in personal computers remain vulnerable, with more of the market starting to rely on smartphones and tablets. Dell's net profits dropped to $130m for the first quarter, with revenues falling 2% to $14 billion.

    From a chart perspective, this puts the stock in a very precarious position, after failing at Fib resistance at 14.60. This is the 61.8% retracement of the decline from 17.95, and we will need to see an upside break here in order to reverse the bias. The main area to watch is historical support at 13.10, a bearish break here should send prices into a free-fall. A clear break sets up PUT options on all time frames, with hourlies, dailies, or monthlies all an accessible possibility.

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  2. #2
    Specialist Member LesterK's Avatar
    Traded at 13.38 now, still above the signal line at 13.10. I am curious why such a disastrous earning report didn't affect the price so much?

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