tsla

Bull Note Boosts Big-Name Tech Stock

The computer stock is looking to reclaim its all-time highs

Deputy Editor
Sep 19, 2023 at 9:09 AM
facebook X logo linkedin


Dell Technologies Inc (NYSE:DELL) stock is 1.6% higher in premarket trading, looking to open above the $70 level following a bull note from Daiwa Capital Markets.

The analyst upgraded the computer stock to "outperform" from "market perform" and hiked its price target to $80 from $50 -- a 16% upside from last night's close -- with potential tailwinds coming from artificial intelligence (AI). In its note to clients, Daiwa analysts said that AI sales "are 'ramping,'" which could increase "long term growth potentials."

Coming into today, covering brokerages were already overwhelmingly bullish on DELL, with nine of 12 recommending a "buy" or better. Meanwhile, the average 12-month target price of $68.50 is a slim 0.9% discount to the security's current perch. 

At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), 1.12 puts have been picked up for every put in the past two weeks, a ratio that stands in the elevated 89th percentile of annual readings. In other words, options traders were much more bearish on Dell Technologies stock over the last two weeks. 

Now looks like a good time to bet on the equity's next move with options, as it is seeing attractively priced premiums at the moment. This is per DELL's Schaeffer's Volatility Index (SVI) of 28%, which stands in the 15th percentile of its annual range. What's more, DELL's Schaeffer's Volatility Scorecard (SVS) sits at a relatively high 73 out of 100. In other words, the security has exceeded options traders' volatility expectations over the past year.

Dell Technologies stock is on track to reclaim its Sept. 11 record peak of $72.82, as well as support from its 10-day moving average. This follows a post-earnings bull gap on the charts that propelled the shares above its early 2022 all-time highs. Year on year, DELL is up 82.2%.

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.