On Saturday, August 17, we said, “Keep an eye on oversold shares of Dell (SYM: DELL). After plunging from about $150 to just under $90, the oversold tech stock is starting to pivot higher. It’s also starting to pivot from over-extensions on RSI, MACD and Williams’ %R. From its last traded price of $110.64, we’d like to see DELL initially refill its bearish gap at around $140.”
By Monday, August 19, Dell opened at $111.
Today, the stock is up to $115.54 and could push even higher thanks to strong earnings and guidance. For fiscal year 2025, the company raised its EPS guidance to a new range of $7.55 to $8.05 from a prior range of $7.40 to $7.90.
Helping, analysts at Goldman Sachs said Dell’s improving AI server margins “should support its valuation multiple and mid-term growth outlook, and we’re encouraged by early signs of a growth inflection in traditional servers and storage,” as reported by Investing.com.
