Here’s the 1,000-word DELL Elliott Wave article, with no charts and keeping your stated targets intact.

Dell Technologies (DELL) has developed a potentially significant Elliott Wave structure following an enormous initial advance and a substantial corrective decline. The current count identifies the move from 80 to 480 as Wave 1, followed by a Wave 2 correction from 480 to 360. From the completion of that correction, the next major upside projection is 1,080 for Wave 3, while the subsequent Wave 5 calculation produces a target of approximately 610 under the .618 relationship between Wave 1 and Wave 3.

The structure presents an interesting combination of near-term confirmation and longer-term upside potential.

The first major leg of the structure is the advance from 80 to 480. This represents a 400-point increase and establishes 480 as the important Wave 1 peak. The magnitude of this move demonstrates that DELL had already undergone a major expansion before entering its corrective phase.

As Elliott Wave analysis would suggest, such a powerful first wave can be followed by a significant retracement. That is what occurred when DELL declined from 480 to 360.

The move from 480 to 360 is identified as Wave 2.

The 120-point decline represented a meaningful correction, but the stock remained substantially above the original Wave 1 starting point at 80. This is an important characteristic of the current structure because the preservation of the Wave 1 origin allows the bullish interpretation to remain intact.

If 360 represents the completed Wave 2 low, the market has potentially established the foundation for the next major impulsive phase.

That phase is identified as Wave 3, with a projected target of 1,080.

The scale of this projection is substantial. A move from 360 to 1,080 would represent a 720-point advance and would dramatically exceed the magnitude of the original Wave 1. That type of expansion is precisely what makes Wave 3 so important in an Elliott Wave structure.

Wave 3 is frequently the stage at which the underlying trend becomes obvious to the broader market. What initially appears to be a recovery from a correction can develop into a powerful momentum advance as resistance levels are broken and market participants increasingly recognize the larger trend.

For DELL, the key question is whether the stock can successfully transition from the 480-to-360 correction into a sustained impulsive advance.

The 480 level naturally becomes an important structural reference. A recovery back toward 480 would represent a return to the previous Wave 1 peak. A decisive move above 480 would provide additional evidence that the correction from 480 to 360 has ended and that DELL has entered a new bullish phase.

Once the previous Wave 1 high is exceeded, the market enters new-high territory relative to the first impulse. That would substantially strengthen the Wave 3 interpretation.

The larger target remains 1,080.

Under the current count, 1,080 represents the projected destination for Wave 3. It should be viewed as a conditional objective rather than a guarantee. The market must first confirm the structure through sustained upside momentum and successful resistance breaks.

The subsequent Wave 5 calculation introduces another important target: 610.

Using the stated .618 × (Wave 1 + Wave 3) relationship, the projected Wave 5 target is approximately 610. This provides a separate reference point within the larger five-wave structure.

The relationship is particularly interesting because the Wave 5 projection does not simply extend the Wave 3 target. Instead, it uses the combined magnitude of the earlier impulsive waves to estimate where the final wave could terminate.

That produces the following overall framework:

80 → 480 = Wave 1

480 → 360 = Wave 2

Wave 3 = 1,080

Wave 5 = approximately 610 using the .618 × (Wave 1 + Wave 3) relationship

The important thing is to understand the different roles of these numbers.

The 1,080 target represents the major Wave 3 projection. The 610 target represents the calculated Wave 5 projection within the larger sequence. These are not necessarily competing targets; they belong to different stages of the Elliott Wave structure.

The market therefore needs to develop sequentially.

First, 360 must remain intact as the proposed Wave 2 low. Next, DELL needs to recover the 480 Wave 1 high. A sustained breakout above 480 would provide important confirmation that the next impulse is underway.

From there, the market would begin targeting the much larger Wave 3 objective at 1,080.

The behavior of DELL as it approaches intermediate resistance levels will be important. A strong, persistent advance would support the idea that the stock is developing a genuine Wave 3. Conversely, repeated failures and a return toward 360 would indicate that the corrective structure may not yet be complete.

The 360 level therefore remains the key structural reference on the downside.

A decisive break below 360 would materially weaken the current bullish interpretation because the proposed Wave 2 low would no longer be holding. The market would then require a reassessment of the wave structure.

As long as 360 remains intact, however, the bullish scenario remains technically viable.

One of the most compelling characteristics of the DELL setup is the dramatic expansion represented by the projected Wave 3. The first wave advanced 400 points from 80 to 480. The projected Wave 3 extends 720 points from the 360 Wave 2 low to 1,080.

That would make Wave 3 substantially larger than Wave 1, consistent with the idea of a powerful impulsive expansion.

If the stock successfully moves above 480 and begins accelerating, momentum could become increasingly important. Breakouts above previous highs often change market psychology because traders who were waiting for confirmation are forced to reassess their positions.

The progression from 480 toward 1,080 would therefore represent the major test of the current Elliott Wave count.

If DELL reaches 1,080 and completes the projected Wave 3, the market would then enter another corrective phase before potentially developing the final Wave 5. At that stage, the calculated 610 Wave 5 projection becomes relevant to the broader five-wave structure.

Again, the 610 figure should be interpreted within the context of the specific wave calculation rather than as an immediate price objective. Elliott Wave projections evolve as the market develops, and the actual price action determines whether the projected relationships remain valid.

The overall roadmap remains clear.

360 is the proposed Wave 2 low.

480 is the major Wave 1 resistance and breakout reference.

1,080 is the projected Wave 3 target.

610 is the calculated Wave 5 target using the .618 × (Wave 1 + Wave 3) relationship.

This gives DELL a clearly defined technical framework for the next major phase.

The bullish case becomes increasingly compelling if the stock can hold 360, recover 480, and then establish a sustained breakout. Once above the previous Wave 1 high, the market would have provided important evidence that the correction has ended and that the next major impulse is developing.

Bottom line: DELL's current Elliott Wave structure identifies 80–480 as Wave 1 and 480–360 as Wave 2. If 360 holds as the completed corrective low, the next major projection is 1,080 for Wave 3. The subsequent Wave 5 calculation, using the .618 relationship between Wave 1 and Wave 3, produces a projected target of approximately 610.

The critical transition is therefore the move from the 360 Wave 2 low back above the 480 Wave 1 peak. If DELL can accomplish that and maintain momentum, the 1,080 Wave 3 projection becomes the major upside objective. The ultimate five-wave structure then provides the framework for the subsequent 610 Wave 5 projection.

For now, the key question is simple: Can DELL turn the 360 Wave 2 low into the launching point for a much larger Wave 3? If it can, the current Elliott Wave structure points toward a potentially dramatic expansion in price.