Dell Technologies Inc

DELL is in a Stage 3 distribution phase after a sustained uptrend that peaked in mid-June. The price has formed lower highs and lower lows under declining 9- and 21-EMAs, with heavier volume on down days and a rolling short-term EMA regime confirming weakening momentum. Medium-term bias is bearish, favoring selling into rallies. Execution should be deferred until price rallies into the declining EMA zone, where rejection is likely.

• ↑Q1 FY27 revenue $43.8 B (+88% YoY); EPS $4.86 (+214% YoY)
• ↑AI orders hit $34.1 B in Q4 FY26; backlog at $51.3 B
• ↓TTM P/E of 34.5x far exceeds historical 13.2x median