Technical Outlook

Rebounded from support. DELL had staged a rebound from its strong support, following a minor correction phase. Momentum indicators remain robust, with the RSI rising above 40 while the MACDV continue to extend its bullish formation. As the stock remains well supported by its 100-day EMA, a continuation of its uptrend is anticipated.

Trading Catalysts 

• Cybersecurity expansion broadens growth opportunities. On 27 October, Dell announced new services and capabilities for AI security hardening and recovery, identity threat detection, and quantum-ready data protection. The expanded portfolio could create cross-selling opportunities across Dell’s enterprise customer base, although the potential earnings contribution has not been quantified.
• Enterprise AI adoption strengthens demand visibility. Dell reported that its AI Factory with NVIDIA customer base grew from 5,000 to more than 6,500 during 2QFY27. On 21 October, Dell and NVIDIA announced additional validated solutions and infrastructure for enterprise AI deployment. These developments could support demand for servers, storage and related services.
• Record AI backlog underpins earnings momentum. In 2QFY27, Dell recorded USD60.9bn in AI server orders and a record USD95bn backlog. Management raised its FY27 AI-optimised server revenue guidance to USD74bn, up 200% year on year. Dell is scheduled to report 3QFY27 results on 24 November.