On August 14, we said, “Keep an eye on oversold shares of Dell (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 $95.27, we’d like to see DELL initially refill its bearish gap at around $110.”

Today, DELL is up to $115.54. All thanks to strong earnings and raised full-year forecasts.

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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.

Sincerely,

Ian Cooper