Swing Trade Idea (DELL) – April 8, 2021
Our bullish trade for Tuesday, April 6th is DELL (Dell Technologies). DELL is part of the Technology Sector (XLK). XLK has experienced a 10.1% gain in the last month as technology stocks continue to rally approaching new all-time highs.
DELL has been on a strong bullish trend since November 2020 and both 1M and 6M trends remain bullish. With a technical score of 7 (out of 10), DELL is a strong stock that will likely continue higher.
As a stop loss, if DELL were to trade below $85 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves above $4.04.
