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Dell on fire

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Not the stock, the computers. Dell is recalling 284,000 batteries used in their notebook computers. These batteries can overcharge, and possibly catch fire. The news has helped push Dell's stock down 1.20 points today.

Dell Daily and Point and Figure Chart

Dell still remains above the up trend and 50-dma, but that could be in jeopardy. The 200-dma is quickly falling, and will try to force a break of the up trend. There is also some bearish divergence showing on the MACD that suggests lower prices. If Dell can manage to take all this heat and still remain above 22, the bullish price objective of 39 will remain intact.

Jeffrey Canavan
Assistant Analyst
www.premiermarkets.com

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