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Watch for Dell to Potentially Pullback After Gaining 1.78% Yesterday
Mar 06, 2013 (SmarTrend(R) News Watch via COMTEX) --
Dell (NASDAQ:DELL) traded in a range yesterday that spanned from a low of $13.95 to a high of $14.51. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $14.10 on volume of 59.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Dell have traded between a low of $8.69 and a high of $18.36 and are now at $14.33, which is 65% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.7%.
SmarTrend recommended that subscribers consider buying shares of Dell on December 11th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.70. Since that recommendation, shares of Dell have risen 31.5%. We continue to monitor DELL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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