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Cup and Handle Takes Shape in DELL

Posted on Tuesday, July 29, 2008 at 11:30AM by Registered CommenterPrice Patterns in

DELL is even for the year. Put another way, it's holding up pretty well.

DELL formed a wide base of support earlier in the year at $19. The stock has since rallied from support and consolidated around $22 to $24. The pattern over the last seven months is a cup and handle.

DELL could easily breakout and trend higher if the broader market stabilizes. A close above $25 would signal a breakout from the cup and handle.

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