Dell Technologies Inc. (NYSE:DELL) shares rose in Thursday’s premarket session as improving risk appetite lifted technology stocks. Nasdaq futures gained 1.68%, while S&P 500 futures advanced 0.76%.

The early gains appeared to track a broader move into growth and momentum stocks rather than a company-specific catalyst. Dell remains near its recent highs, and investors continue to view pullbacks as buying opportunities instead of signs of a trend reversal.

Separately, Dell disclosed Wednesday that investment funds affiliated with Silver Lake converted approximately 3.44 million shares of the company’s Class B common stock into an equal number of Class C common shares earlier this month.

Technical Analysis

Dell remains in a strong long-term uptrend. The stock is trading 15.4% above its 20-day simple moving average of $372.50 and 149.8% above its 200-day simple moving average of $172.17. While that reflects strong momentum, it also increases the risk of sharper pullbacks if buying pressure weakens.

The ...