The chart is a 3 box reversal Point and Figure chart.
The chart is based on daily high and daily low prices.
The chart is a 2% logrithmic chart, ie each chart box represents a price
change of 2% of the value of the box above or below it.
Three possible resistance prices and four possible support prices are
shown, as well as the support/resistance lines.
A 'resistance' or 'support' point is a price where an issue's upward
or downward price movement may 'stall'. The ultimate result of the 'stall'
may be either a continuation or a reversal of price movement, depending
on whether there are more or less sellers than buyers at the specific price
DELL is trading near the bottom of an overall bullish trading channel.
The current DELL p&f analysis signal is a 'buy' signal. DELL is in
an uptrend column ('X') after having reversed direction at the overall
bullish support line (BLSL). Upside resistance may be seen at points R1
thru R3. Downside support may be seen at points S1, through 4 Support
point S1 ($40 1/8) must hold at the Overall Bullish Support Line (BLSL)
to preserve the overall bullish trading channel.