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April 24, 2006
DELL Cut to SELL
Barry Ritholtz of Ritholtz Research notes: Citigroup analyst Richard Gardner has heard the whining. He cuts Dell to a Sell, advises them to work on customer support. Gardner Note: "In our view, it would be preferable for Dell to reduce margins, and even near-term growth, rather than destroy 20 years of brand equity"".
Not kidding. I wonder if he peaked at the chart and why he was so late to the party. DELL formed a clear descending triangle, which is a bearish continuation pattern, and gapped below support.
Posted by Arthur B. Hill at April 24, 2006 03:26 PM