Don't Ignore This Chart!

Dell Shows Relative Strength and a Bear Flag

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While the stock market swooned over the last few weeks, Dell Inc (DELL) held its ground and did not break its late May lows. In fact, the stock has been edging higher the last three weeks. The indicator window shows the Price Relative rising to a new high for 2011. Relative strength is bullish, but traders need to watch support from the June low as a rising (bearish) flag could be taking shape.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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