Dell Technologies (DELL) Price Forecast: Bullish Structure Holds After Earnings Surge

Earnings Surge Drives Powerful Upswing

Shares of Dell Technologies Inc. (DELL) showed a positive response to the company’s earnings report for fiscal Q4 2026 released on February 26. The stock gapped up at the open the next day, with strength continuing into the following week, resulting in a trend high of $153.72. That advance almost completed a 78.6% Fibonacci retracement at $155.59 before momentum stalled. Subsequently, the stock has consolidated relatively close to the highs after beginning the recent upswing from the higher swing low of $111.20.

Reclaiming Long-Term Trend Indicators

During the advance, strength was indicated by a reclaim of both the 100-day and 200-day moving averages. Both averages had recently acted as key areas of support or resistance. The potential for the long-term uptrend in DELL improves when price remains above both of those significant trend indicators.

Wedge Breakout Sets the Stage

The sharp advance after earnings followed a breakout of a falling bullish wedge pattern in early February. Momentum had become subdued following the breakout, raising concerns about whether there would be bullish follow-through. That question was answered with the recent $153.72 high, as a lower swing high at $142.34 from December was reclaimed during the ascent, providing a bullish trend-reversal signal. That level also marked the approximate upper boundary of the prior wedge formation.

Consolidation Near Highs

As equities have come under pressure recently, DELL has held up relatively well and appears to be preparing for another leg higher. Prior resistance near the December peak has been tested as support for five days now, including Monday, with a low of $141.36. However, last Tuesday’s low of $141.02 provides the lower boundary of a five-day consolidation range. This behavior is constructive if followed by a rally and breakout above last Thursday’s high of $149.16. A decisive breakout above that level would signal renewed upside momentum and potentially begin the next advance from the recent consolidation near the highs.

Key Support Levels to Watch

If a deeper pullback occurs below $141.02, then key trend indicators could be tested as support before buyers take back control. The 100-day moving average, near $132.12, provides the first trend indicator for possible support, followed by the 200-day moving average at $129.90. A successful defense of those levels would help maintain the broader bullish structure established after the earnings-driven breakout.