Dell Technologies Inc. DELL recently caught the attention of investors with a Golden Cross signal, indicating a positive trend in its stock. This occurs when the 50-day moving average ($124.16) surpasses the 200-day moving average ($121.11).

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Currently priced at $134.30, Dell’s stock is well above both moving averages, indicating strong upward momentum.

The timing of this signal aligns with Dell’s upcoming third-quarter earnings report, set to be released on Nov. 26 after market close. Analysts are expressing optimism as the date approaches.

Wells Fargo recently boosted its price target for Dell from $140 to $160. This increase reflects several positive factors, including demand for NVIDIA Corp NVDA Blackwell AI servers, a cycle for server upgrades, and strong seasonal sales trends in storage.

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In addition to these growth drivers, Dell maintains a healthy $5 billion annual free cash flow and holds an investment-grade debt rating, further supporting the positive outlook. The PC market is also gradually recovering, with expectations of continued growth through 2025.

Dell’s technical indicators bolster this optimistic outlook:

• Its eight-day ($135.02), 20-day ($130.42), and 50-day ($124.16) simple moving averages are all below the current share price of $134.30, indicating a strong upward trajectory.
• The Moving Average Convergence Divergence (MACD) stands at 3.45, further reinforcing the bullish perspective.
• With a Relative Strength Index (RSI) of 56.28, Dell is in neutral territory, providing room for further gains.

Year-to-date, Dell’s stock has surged by 79%, significantly outpacing the S&P 500. Analysts’ consensus price target stands at $149.67, suggesting an 11.95% potential upside. With major firms such as Wells Fargo, Morgan Stanley, and Mizuho backing the stock, investor sentiment remains high.

As Dell approaches its earnings announcement, all eyes are on whether the results will align with the current technical and fundamental optimism.

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