Dell has completed, or is about to complete, a very clear 5 wave sequence down. It could go the extra 50 cents to get right to the channel line but that should do it. A rebound to at least $12.75 should be anticipated after that, even if the stock drops unexpectedly to , say , $9 or even $8. That would be good for a 25% return no matter what!
Looking at the big picture we have an a-b-c down from $53 to $8 or so. That is a nice bear move in and of itself so it may indeed be complete. We assume for the moment that it is and since that point the stock has done a first wave up in a new bull followed by a rather long a-b-c wave 2. If correct wave 3 should follow and the upside is considerable larger than the 25% indicated.
There is , however, always the possibility that the a-b-c or double zig-zag correction could become more complex than it already is by adding a third a-b-c. That would make the $10 level the bottom of the a part with b and c yet to follow. The two previous b’s were good for $5 so why not this one too, so , in all scenarios, you should make at least 25%. Good luck!