Latest Update — September 17, 2026

DELL finally clears $562.98 and breaks to a new all-time high

What happened?

DELL completed a powerful reversal Thursday, climbing 4.46% to close at $588.40 after reaching a new all-time high of $593.98.

The bigger story is the level that came before the new high. $562.98 had repeatedly stopped DELL, and each rejection produced a progressively smaller setback. In Wednesday's extended-hours session, price finally broke above $562.98 and, more importantly, held above it. That was the cleaner technical setup before Thursday's acceleration into price discovery.

Latest News

The rebound developed over several sessions. After falling nearly 6% Monday during a broad selloff in AI-linked hardware, DELL rebounded about 3% Tuesday despite weakness across the broader market, then continued higher Wednesday. Thursday's move came during a strong technology-led market rebound, with DELL outperforming the major indexes as it pushed to a record high.

The fundamental backdrop remains centered on AI infrastructure demand. Recent RBC Capital Markets research described Dell's operating environment as more supply-constrained than demand-limited, citing enterprise AI investment, compute modernization, storage expansion and PC refresh demand. RBC expects meaningful backlog to persist through fiscal 2027.

Wall Street Reaction

RBC recently initiated coverage with an Outperform rating and a $640 price target. Evercore ISI maintained Outperform and raised its target to $650, while Citigroup maintained Buy and raised its target to $600. These calls predate Thursday's breakout, so they are best viewed as part of the broader bullish backdrop rather than a fresh catalyst for the move.

Key levels I'm watching now

All-Time High / Breakout Level$593.98DELL set a new all-time high here Thursday. A break above and hold would keep the stock in price discovery.
Next Upside Area$598.39–$599.92Two separate technical projections converge just below $600, making this the first meaningful area above the current high.
Larger Upside Level$607.70This becomes the next larger upside level if DELL can establish itself above the $600 area.
First Area Below$585.81–$587.53Two nearby technical levels sit just below Thursday's close. This is the first area to watch if DELL gives back some of the breakout.
Deeper Support$575.94This level sits near the area DELL traded around before the latest breakout and becomes more important if the first area below fails.

Dagger Trading Take

The breakout mattered. The hold above $562.98 mattered more.

DELL had already shown that simply touching or briefly clearing $562.98 was not enough. What changed Wednesday evening was that buyers finally established price above the level instead of immediately giving it back.

In hindsight, that break-and-hold offered a cleaner setup than chasing Thursday's move after DELL had already extended into the $580s and $590s. From here, $593.98 is the immediate breakout test. Above it, I'm watching $598.39–$599.92 and then $607.70. If DELL cools off, $585.81–$587.53 is the first area below, with $575.94 the more meaningful deeper support.

Let price confirm the next move.

Dagger Trading Merch

Check out the latest Dagger Trading mugs. ☕

Trading humor, psychology, and Dagger designs... now available on mugs.

Check Out the Mugs →

Sources & notes for this update

  • September 17, 2026 MarketWatch reporting on DELL's 4.46% gain to $588.40 and the broader market advance.
  • September 15–16, 2026 Benzinga reporting on DELL's rebound from Monday's AI-linked selloff and its relative strength during Tuesday's weaker market session.
  • September 11, 2026 RBC Capital Markets commentary supplied through MT Newswires on AI infrastructure demand, backlog visibility and its $640 price target.
  • September 17, 2026 price action and technical levels are based on Dagger Trading's Thinkorswim chart analysis supplied after the close.

🎮 Interactive Trading Challenge

Think You'd Make the Right Trade?

Make your choices through realistic trading scenarios and see where your discipline and decision-making lead.

Play WWYD →

Previous Update — September 14, 2026

DELL gives back part of Friday’s breakout as AI hardware sentiment reverses

What happened?

DELL fell $33.01 (-5.82%) Monday and closed at $534.28, reversing a large portion of Friday’s 12% breakout. The key $562.98 support highlighted in the September 11 update failed, and selling accelerated through the lower support areas from that roadmap.

Shares reached an intraday low near $525.85, essentially testing the $526.18 downside level before buyers responded. That reaction makes the $526 area important again, but the near-term structure has clearly changed from Friday’s breakout.

Latest News

DELL fell as part of a broad selloff across AI-linked hardware stocks as investors reassessed whether calls for a slower pace of AI development could eventually affect data-center and infrastructure spending. Friday’s sharp rally also left DELL vulnerable to profit-taking as sentiment across the group reversed.

There was an important counterpoint later in the session: Microsoft’s new AI safeguards do not represent a slowdown in AI development. Microsoft spent $145 billion in capital expenditures last fiscal year, and Wall Street expects even heavier AI spending in fiscal 2027. For now, the market is weighing AI-spending fears against continued aggressive investment by major cloud providers.

Key levels I'm watching now

Immediate Decision Level$533.10DELL finished just above this area. Holding or reclaiming it keeps price above the deeper support structure; losing it puts the lower support area back in focus.
Key Reclaim Area$539.49–$540.15This area was previously support. With DELL now below it, bulls need to reclaim it before the near-term recovery setup improves.
Larger Resistance$549.79If DELL can recover the $539.49–$540.15 area, this becomes the next larger upside test.
Key Support Area$528.72–$526.18DELL already tested the lower end of this area Monday, reaching about $525.85 before bouncing. A decisive failure here would weaken the setup further.

Dagger Trading Take

$562.98 failed. The roadmap has changed.

The September 11 update identified $562.98 as the level DELL needed to hold to keep the breakout structure intact. It failed, and DELL ultimately retraced into the deeper $528.72–$526.18 support area.

For now, $533.10 is the immediate decision level. Above it, I’m watching whether DELL can reclaim $539.49–$540.15, with $549.79 above that. Below $533.10, the $528.72–$526.18 support area comes back into focus.

Let price confirm the next move.

Dagger Trading Merch

Check out the latest Dagger Trading mugs. ☕

Trading humor, psychology, and Dagger designs... now available on mugs.

Check Out the Mugs →

Sources & notes for this update

  • September 14, 2026 Benzinga reporting on the broad AI-linked selloff and investor concerns around future AI infrastructure spending.
  • September 14, 2026 Barron’s reporting that Microsoft’s new AI safeguards do not represent a slowdown in AI development, alongside continued expectations for heavy AI capital spending.
  • September 14, 2026 price action and technical levels are based on Dagger Trading’s Thinkorswim chart analysis supplied after the close.

Previous Update — September 11, 2026

DELL breaks to another high as AI infrastructure spending stays in focus

What happened?

DELL surged 12.0% Friday and closed at $567.29 after reaching approximately $567.75 intraday. The move cleared the prior $562.99 52-week high from September 9 and came on 14.3 million shares, nearly double the 50-day average of 7.3 million.

The stock is now trading in extension territory, so the focus shifts away from chasing the move and toward whether buyers can continue defending the breakout.

Latest News

AI infrastructure spending remained a major catalyst across the hardware group. Oracle said it expects fiscal-year capital expenditures of $90–$95 billion, up sharply from $56 billion last year, reinforcing expectations that large-scale data-center investment remains strong. Dell and HPE were among the market's strongest performers Friday as investors rotated into companies positioned to supply that buildout.

Wall Street Reaction

RBC Capital Markets initiated Dell with an Outperform rating and a $640 price target. RBC said enterprise AI investment, compute modernization, storage expansion and the PC refresh cycle could keep Dell's results above long-term targets. The firm also views the current environment as more supply-constrained than demand-constrained and expects meaningful backlog to persist through fiscal 2027.

Key levels I'm watching now

Key Support$562.98This is the first level I'm watching after Friday's breakout. Holding it as support keeps the near-term structure constructive.
Key Resistance$570.75–$571.91This is the first major upside test. A break above this area needs confirmation and support before the next extension comes into focus.
Next Upside Level$579.23If DELL clears the resistance area above and momentum remains strong, this becomes the next upside level I'm watching.
First Deeper Support$549.79If $562.98 fails and begins holding as resistance, this becomes the next important downside level.
Major Deeper Support$539.49–$540.15If weakness extends beyond $549.79, this is the stronger deeper support area I'm watching next.

Dagger Trading Take

The breakout is strong. $562.98 now matters most.

DELL is effectively trading at new highs after another major move, but that does not mean the stock has to continue higher in a straight line. For now, $562.98 is the key level I'm watching.

Hold it as support and the next test is $570.75–$571.91. A confirmed break above that area puts $579.23 in play. Lose $562.98 and begin holding below it, and attention shifts toward $549.79, with stronger deeper support around $539.49–$540.15.

Momentum is strong. Let price confirm the next move.

Dagger Trading Merch

Check out the latest Dagger Trading mugs. ☕

Trading humor, psychology, and Dagger designs... now available on mugs.

Check Out the Mugs →

Sources & notes for this update

  • September 11, 2026 Dow Jones Market Data / FactSet reporting on Dell's 12.0% gain, new 52-week high and trading volume.
  • September 11, 2026 Barron's reporting on AI infrastructure spending, Oracle's capital-expenditure outlook and the broader hardware rally.
  • September 11, 2026 RBC Capital Markets commentary supplied through MT Newswires on AI infrastructure demand, backlog visibility and its $640 price target.
  • September 11, 2026 price action and technical levels are based on Dagger Trading's Thinkorswim chart analysis supplied after the close.

Previous Update — September 3, 2026

DELL hits record highs as the post-earnings rally accelerates

What happened?

DELL extended its post-earnings rally and pushed to a new record high of $530.78. One of the most important parts of the move was how price behaved around $503.32, the next major upside target highlighted in the September 2 update.

After reaching that area, DELL was able to hold above it as support. Buyers continued defending the breakout, momentum accelerated and the stock pushed substantially higher.

Latest News

Dell's AI infrastructure demand remains exceptionally strong. On the earnings call, COO Jeff Clarke said demand again exceeded available supply. AI server orders reached a record $60.9 billion during the quarter and Dell exited with an AI backlog of $95 billion. At the same time, management continues to navigate shortages across memory, CPUs, drives and other components, making supply availability and execution important factors going forward.

Wall Street Reaction

Analyst sentiment remains bullish following Dell's earnings. According to FactSet data reported September 3, DELL carries an average Overweight rating with a mean price target of $576.76.

Key levels I'm watching now

Decision Area~$514After such a strong two-day move, this is the area I want to see hold as support. Holding it keeps the bullish structure intact. If it breaks and begins holding as resistance while momentum fades, DELL may need to cool off.
Next Major Upside Zone$535.75–$539.49If the ~$514 area holds and bullish momentum returns, this is the next major upside zone I'm watching. It combines the 200% extension from the secondary Fibonacci structure with the 127.2% extension from the larger structure.

Dagger Trading Take

The previous target did its job. Now let price confirm the next move.

The September 2 roadmap identified $503.32 as the next major upside target. DELL reached it, established support above the area and then accelerated to $530.78.

After a move this aggressive, I don't want to assume the stock simply continues higher. If ~$514 holds as support and momentum strengthens again, the $535.75–$539.49 zone becomes the next major area I'm watching. If ~$514 fails and begins holding as resistance, a pullback or consolidation would not be surprising after the two-day run.

Wait for confirmation, not assumption.

Previous Update — September 2, 2026

DELL surges as buyers defend key technical areas

Dell followed through strongly after earnings, but not without serious volatility. Shares sold off as low as $432.26, briefly undercutting the daily 50 SMA near $435.53 at the time before recovering.

Buyers then regained control, reclaimed the $456.09 level highlighted in the original Spotlight and pushed DELL as high as $497.99.

Wall Street reaction

Analyst reaction following the report was strongly positive. Melius Research maintained Buy and raised its price target to $735. JPMorgan maintained Overweight and raised its target from $565 to $635, while Citigroup maintained Buy and raised its target from $515 to $600. Goldman Sachs, Piper Sandler and Deutsche Bank also raised their price targets.

The bullish response follows a quarter in which Dell reported $60.9 billion in AI orders, exited with a $95 billion AI backlog and raised full-year revenue guidance to $192 billion.

More than just AI servers

One of the more important takeaways from Dell's earnings call was that management sees the current demand cycle extending beyond AI infrastructure. Traditional server revenue increased 122% year over year, while storage revenue grew 26%. Dell believes enterprises are in a broader data-center modernization cycle as companies replace aging infrastructure, improve security and prepare systems for increasingly demanding AI workloads.

Key levels I'm watching now

Immediate Support$486.55DELL is trying to hold this 70.7% retracement area as support after the move to $497.99. Holding it keeps the near-term structure constructive.
Reclaim / Hold Level$493.95This 78.6% retracement is the next key hurdle. If DELL can reclaim it and hold it as support with momentum, the upside setup strengthens.
Next Major Upside Target$503.32This 88.6% retracement becomes the next major upside target if buyers clear $493.95 and maintain momentum.
Important Support$478.21If $486.55 fails and begins holding as resistance, this becomes the next important area I'm watching below.
Major Support$456.09DELL reclaimed this level after the sharp selloff before accelerating higher. Losing it and holding below would weaken the broader setup.

Dagger Trading Take

Strong follow-through. Now the reclaimed levels matter.

Dell's earnings were strong, but the price action added another layer to the story. The stock absorbed a sharp selloff, tested the daily 50 SMA area, recovered and reclaimed $456.09 before eventually reaching $497.99.

The fundamental backdrop remains strong as well. AI demand is accelerating, the backlog is massive, guidance moved higher and Wall Street responded with substantial price-target increases. But after such a large move, chasing strength becomes increasingly risky.

For me, the immediate question is whether DELL can continue defending $486.55. If it holds, I’m watching for a reclaim of $493.95. If buyers can reclaim that 78.6% retracement and hold it as support with momentum, $503.32 becomes the next major upside target. If $486.55 fails and begins holding as resistance, $478.21 becomes the next important area below.

Momentum is strong. The levels determine whether it stays that way.

Dell Technologies • Fiscal Q2 2027

Original Spotlight — September 1, 2026

Published after earnings

30-SECOND SUMMARY

What matters most

  • Dell reported a record $47 billion in revenue, up 58% year over year and above Wall Street's roughly $44.9 billion estimate.
  • Adjusted EPS came in at $7.04, well above the roughly $4.91 estimate.
  • AI-optimized server revenue reached $16.4 billion, while AI orders hit a record $60.9 billion.
  • Dell exited the quarter with a record $95 billion AI backlog.
  • Full-year revenue guidance was raised by $25 billion to $192 billion at the midpoint.
  • The original chart focus remained confirmation around $456.09, with $463, $467.15 and $478.21 above it.

Big earnings beat. Bigger AI demand.

  • Dell reported $47 billion in revenue, up 58% year over year and above Wall Street's roughly $44.9 billion estimate.
  • Adjusted EPS came in at $7.04, well above the roughly $4.91 estimate and up 203% from a year earlier.
  • AI-optimized server revenue reached $16.4 billion, while AI orders hit a record $60.9 billion.
  • Dell exited the quarter with a record $95 billion AI backlog.
  • Full-year revenue guidance was raised by $25 billion to $192 billion at the midpoint.
  • Shares initially surged as high as roughly $473 in after-hours trading before pulling back.

What happened?

Dell delivered a much stronger quarter than Wall Street expected. Revenue reached a record $47 billion and adjusted earnings were $7.04 per share. The biggest driver remains infrastructure demand, especially AI servers, but the strength was broader than AI alone.

Infrastructure Solutions Group revenue rose 89% to $31.8 billion. Traditional server and networking revenue grew 122%, storage revenue increased 26%, and Client Solutions Group revenue rose 20%.

The AI story keeps getting bigger

Dell booked a record $60.9 billion of AI orders during the quarter and finished with a $95 billion backlog. Management also said its five-quarter AI pipeline grew sequentially even after the company booked $131.7 billion of AI orders over the past 12 months.

The customer base is broadening as well. More than 6,500 customers are now buying Dell AI Factory solutions, with enterprise adoption accelerating alongside demand from neocloud and sovereign customers.

Guidance matters

Dell raised full-year revenue guidance to $192 billion at the midpoint, up roughly 70% year over year, and expects adjusted EPS of $25.50. For Q3, management expects approximately $49 billion in revenue and $6.50 in adjusted EPS.

AI server revenue is expected to reach roughly $74 billion for the full year, about three times the prior year's level. That strong outlook is a major reason the stock initially jumped after earnings.

Key levels I'm watching

Key Support$456.09This level was tested after earnings, briefly lost, and then reclaimed into the 8 p.m. extended-hours close. Holding it keeps the near-term setup constructive.
Near-Term Resistance$463 areaThe first hurdle overhead. Price worked around and rejected this area multiple times after earnings.
Key Resistance$467.15The 50% retracement area was tested in after-hours trading and rejected. Reclaiming it as support would strengthen the upside setup.
Next Upside Area$478.21If $467.15 becomes strong support and momentum stays positive, this is the next resistance area I'm watching.

What would improve the chart?

I want to see DELL stay above $456.09. From there, getting back through the $463 area would put $467.15 back in play. A clean break above $467.15 is useful, but holding that level as support would be the stronger signal.

If buyers can do that with positive momentum, $478.21 becomes the next upside area I'm watching.

What would concern me?

If DELL loses $456.09 and begins holding below it, I would be more cautious about the immediate post-earnings move. After such a large run into and immediately after earnings, losing that support could open the door to a deeper pullback.

The earnings were strong, but strong earnings do not guarantee the stock keeps moving higher. Price still has to confirm.

Dagger Trading Take

Great earnings. Don't chase the headline.

Dell's quarter was impressive. Revenue, earnings, AI orders, backlog and guidance all showed real strength. But the stock also had a huge run before earnings and initially spiked to around $473 after the report.

For me, the chart is simpler than the headline: $456.09 is the key support, while $463 and $467.15 are the hurdles overhead. If buyers reclaim those levels and momentum stays strong, $478.21 comes into focus. If $456.09 fails, I would be prepared for a deeper pullback.

Let price confirm it. Stay sharp.

Continue Exploring

More from Dagger Trading

Thanks for reading the DELL Stock Spotlight. Explore more original content focused on trading psychology, market preparation, patience, and risk management.

Trading is more than charts. Struggling with FOMO, overtrading, revenge trading, or self-sabotage? Explore Trading Psychology →

Interactive Trading Challenge

Think You'd Make the Right Trade?

Make your choices through realistic trading scenarios and see where your discipline and decision-making lead.

Play What Would You Do?

Original Content

Trading Comics

Humor and hard-earned market lessons covering FOMO, overtrading, momentum, patience, and risk.

View Trading Comics

Featured Resource

Trading in the Zone

Mark Douglas's classic book on probabilities, discipline, emotional control, and developing a more consistent trading mindset.

Explore Recommended Books

Live Market Tools

Market Center

Check major index quotes, market news, earnings dates, and useful links for preparing your next trade.

Open Market Center

Follow Along

@DaggerTrading

Follow for new Stock Spotlights, market notes, trading psychology, charts, and original comics.

Follow on X

Dagger Trading Merch

Check Out the Latest Mugs

Trading humor, psychology, and Dagger designs... now available on mugs.

Check Out the Mugs →
Return to the Dagger Trading homepage

🗡️ Wait for Confirmation, Not Assumption.