Dell Technologies Inc. (DELL) Elliott Wave technical analysis [Video]

Peter Mathers TradingLounge

DELL Elliott Wave analysis

Function: Counter Trend.
Mode: Corrective.
Structure: Flat.
Position: Wave C of (4).
Direction: Downside in wave C.

Details:

Expecting a clear five-wave move within wave C, currently in the process of Minute wave {iii}.
As long as DELL remains below $100, further downside is expected.

DELL Elliott Wave analysis

Function: Counter Trend.
Mode: Corrective.
Structure: Flat.
Position: Wave (iv) of {c}.
Direction: Downside in wave (v).

Details:

The subdivision within Minute wave {iii} suggests a pullback in wave (iv).
Further downside expected within wave (v), with target at TradingLevel8 near $80.

Summary of DELL analysis

Daily chart:

Dell Technologies (DELL) is undergoing a corrective pattern, with wave C of (4) developing.
A five-wave structure is unfolding within wave C, and Minute wave {iii} is currently in progress.
As long as DELL stays below $100, further downside is likely, potentially completing wave C.

One-hour chart:

DELL is experiencing a wave (iv) pullback within Minute wave {iii}.
After this corrective phase, wave (v) is expected to move lower, with a target near $80.
A completed five-wave move will mark the end of this corrective sequence.

Dell Technologies Inc. (DELL) Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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