Dell Is Up Some 270% YTD, But Does Its Chart Have Issues?Dell Technologies, Inc. Class CBATS:DELLmoomooWant to talk about an interesting chart? Take a look at one for Dell Technologies DELL, which rose more than 300% over 2026's first 8-1/2 months to hit an all-time high recently before pulling back. We'll assess the chart, but let's check out the laptop/server maker's fundamentals first. Dell Technologies' Fundamental Analysis Dell has given back some 9% after hitting a $514 record intraday high on Aug. 13, but the stock is still up about 270% year to date. The firm is now preparing to release fiscal Q2 financial results next Tuesday after the closing bell, with the Street looking for $4.91 in adjusted earnings per share on roughly $44.5 billion of revenue. Such numbers would represent an 111.6% gain from the $2.32 in adjusted EPS that Dell earned in the same quarter last year. They would also reflect 49.3% y/y growth from the $29.8 billion in revenues that Dell recorded a year earlier. Additionally, 21 of the 23 sell-side analysts that I know of who cover this name have revised their earnings estimates higher since period's start, while zero have adjusted their estimates lower. (Two analysts have left their numbers unchanged.) Thirteen of the 19 analysts that TipRanks tracks who follow Dell currently give the stock a "Buy" rating, while six rate it as a "Hold" and none give it a "Sell." The analysts give the stock 12-month price targets ranging from a $700 high to a $360 low, with an average forecast of $504.75. (Dell was trading at $465.77 as of Thursday morning.) While a majority of analysts like the stock, some sound a note of caution. For instance, Erik Woodring of Morgan Stanley (who TipRanks rates at five stars out of a possible five) recently wrote in a research note "that the setup for enterprise hardware OEMs has gotten more challenging, with Dell, NetApp and HP facing the toughest near-term setups given high expectations and rich valuations heading into the print." Woodring rates Dell as a "Hold." So does Brandon Nispel of KeyBanc Securities. He wrote recently that "we see the mix shift to traditional server/storage as beneficial to Dell's profitability, which should allow the business to absorb higher, lower-margin AI server growth. we are less optimistic on the PC cycle, as unit declines are evident, there is more competition in the low end with MacBook Neo and Dell market share was flat y/y." Dell Technologies' Technical Analysis Now let's check out Dell's chart going back some nine months and running through Wednesday afternoon (Aug. 25): Take a look at that run from January into late spring. Dell has been a real beneficiary of the AI trade, and readers will see a big gap higher this past May in response to Q1 earnings. This constitutes a sizable portion of a parabolic spike for the stock that looks like a flagpole. Dell has for the most part held onto those gains. While it's recently traded sideways to slightly lower, the stock has nonetheless developed a bull-flag pattern. Shaded in green at the chart's right, this pattern signals trend continuance and gives Dell an upside pivot of the flagpole's top ($469 vs. the stock's $465.77 trading level on Thursday morning). Dell's 50-day Simple Moving Average (or "SMA," marked with blue line at $429.90) has also held as a support level so far. This likely means that some professional managers are buying shares at that level. Looking at the other technical indicators listed above, Dell's Relative Strength Index (the gray line marked "RSI" at the chart's top) is barely neutral and really not telling us much of anything directional. However, the daily Moving Average Convergence Divergence indicator (or "MACD," denoted by blue bars, a black line and a gold line at the chart's bottom) is sort of sending us warning signs. For example, the histogram of the 9-day Exponential Moving Average (or "EMA," marked with blue bars) has been in negative territory since mid-August. That's a short-term bearish signal. On top of that, Dell's 12-day EMA (the black line) is running below its 26-day EMA (the gold line). That's bearish-looking, too. That said, that latter signal is less profoundly bearish given that both of those lines are still standing above the zero-bound. (Moomoo Technologies Inc. Markets Commentator Stephen "Sarge" Guilfoyle had no position in DELL at the time of writing this column.) This article discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. 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