3D Printing Stock Stabilizes After Dramatic Pullback
3D Systems was a popular trading vehicle 7-10 years ago. It then slipped into a long decline -- before jolting back to life in January.
Now it’s pulled back and consolidated after that dramatic surge. A few chart patterns in particular stand out.
First, DDD is bouncing near its 200-day simple moving average (SMA). That’s a potential sign of the longer-term trend turning more bullish.
Next is the bullish outside candle on the weekly chart. Considering the long slide since February, that pattern is a potential bullish reversal pattern:
Third, notice the high-volume bullish gap on May 11 after a strong quarterly report. DDD’s 50-day SMA is bearing down from above, while its 8- and 21-day exponential moving averages (EMAs) are providing lift from below.
DDD could also be interesting fundamentally because 3-D printing has emerged as a new growth area from coronavirus. The industry is entering the mass market – especially as factories struggle with component shortages. This space could be worth watching, and DDD is the most actively traded member of the group.
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Now it’s pulled back and consolidated after that dramatic surge. A few chart patterns in particular stand out.
First, DDD is bouncing near its 200-day simple moving average (SMA). That’s a potential sign of the longer-term trend turning more bullish.
Next is the bullish outside candle on the weekly chart. Considering the long slide since February, that pattern is a potential bullish reversal pattern:
Third, notice the high-volume bullish gap on May 11 after a strong quarterly report. DDD’s 50-day SMA is bearing down from above, while its 8- and 21-day exponential moving averages (EMAs) are providing lift from below.
DDD could also be interesting fundamentally because 3-D printing has emerged as a new growth area from coronavirus. The industry is entering the mass market – especially as factories struggle with component shortages. This space could be worth watching, and DDD is the most actively traded member of the group.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
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