DELL PROFIT BEATS ESTIMATES, STOCK SPIKES
Dell Technologies Inc.’s stock is currently trading at 52.63-higher by 12.53% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 8.57%. The stock has continued gaining after the opening bell.
The computer maker reported its earnings after the market close on Thursday. Dell generated an adjusted EPS of $2.15 for its latest quarter. The EPS was above the market expectation of $1.49. The company brought in $23.37 billion in revenue for the second quarter ended 2nd August. The revenue was above the consensus estimates of $23.32 billion.
The PC maker forecasts full-year adjusted EPS in a range of $6.95 to $7.40. The EPS forecast was above the market expectation of $6.42. Dell reported better-than-expected second-quarter earnings due to higher demand for desktops, as well as a focus on more profitable contracts within its server unit in China.
On the technical front, the RSI is currently at 56.79% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards.
TRADE SUGGESTION- LIMIT BUY AT 52.40 TAKE PROFIT AT 53.36 STOP LOSS AT 51.92