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DXC Technology Co. - (DXC) - April 1, 2021 

IT service provider DXC Technology (DXC) has returned to the Green Favored Zone of the SIA S&P 500 Index Report from a brief dip into the yellow zone. The shares finished yesterday in 88th place, up 20 spots on the day and up 130 spots in the last month.

DXC Technology (DXC) shares have staged a major breakout this week. Rallying up above $30.00 has completed a large, bullish Ascending Triangle pattern, completing a year-long period of base building, and signaling the start of a new uptrend.

Initial upside resistance appears near $37.50 where the shares struggled in late 2019, then the $40.00 round number and the $46.00 to $50.00 zone where previous support levels, a round number and measured moves cluster. Initial support moves up to the $30.00 breakout point from the $25.00 round number.

A new upleg appears to be underway in DXC Technology (DXC) shares which this week have completed a bullish Spread Double Top breakout, resolved a symmetrical triangle to the upside, confirming that underlying accumulation remains intact and regained the $30.00 level.

Initial upside resistance appears near $33.85 where a downtrend line, previous column high and vertical/horizontal counts cluster. A breakout there would confirm the strength of the current upward trend. Next potential resistance after that appears near $37.40 based on a previous column high, $38.90 based on a horizontal count, and $45.55, where a vertical count and a previous column low converge. Initial support appears near $28.30 based on a 3-box reversal.

With a bullish SMAX score of 8, DXC is exhibiting near-term strength against the asset classes.

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