Stock Picks – Buy Dell-DELL at Critical Support

by Sam Collins | October 12, 2009 11:09 am

 

Dell (DELL[1]) — This maker of desktop PCs, workstations and notebook computers, fell from more than $40 in December 2004 to less than $8 in late February of this year.   

 

But following a two-month consolidation, DELL broke to the upside. Since then, it has been trading in a narrow bull channel, not unlike the major indices. 

Now, however, unlike the indices, DELL is sitting on its bullish support line and 50-day moving average. DELL should be bought at this critical support with stops at $15. 

The stock should continue to trade within the bull channel, so the next top could be around $18, but the longer-term target is $25 to $26.

---

Go after money doublers with every trade you make! Download your FREE copy of The Options Trader’s Guide to Technical Analysis today.[2]

Source URL: http://www.investorplace.com/2009/10/stock-picks-dell/
Short URL: http://www.investorplace.com/?p=5925

---