Stratasys, Ltd.Long
SSYS Monthly bullish divergence on the RSI
Updated
Here we have a log scale monthly chart of SSYS. The 1.618 level at about 14,30$ will be a key level. If price can break above that and backtest it as support, there is a very high probability we see a large move to the upside. Just look at this bullish divergence from the low of January 2016, monthly RSI is now close to the 50% middle line as well. This stock has lost 90% of it's value from ATH, like most of the 3D printing stocks since 2014.
I can do a multiple time frame analysis if people are interested in this setup. The weekly and daily also look bullish, and if you look at the linear scale, the price is also at a very interesting macro level in relation to the uptrend and forming a inversed head and shoulders. The master of all reversal patterns, all that while volatility seems to be contracting heavily on small timeframes... This setup looks too good to be true, honestly. But the whole 3D printing sector has been correcting for a decade now due to heavy speculation when it came out (bubble) and problems with mass production. Still, there are very promising technologies in 3D printing! And it will for sure be used in robotics to make very light and durable parts.
I can do a multiple time frame analysis if people are interested in this setup. The weekly and daily also look bullish, and if you look at the linear scale, the price is also at a very interesting macro level in relation to the uptrend and forming a inversed head and shoulders. The master of all reversal patterns, all that while volatility seems to be contracting heavily on small timeframes... This setup looks too good to be true, honestly. But the whole 3D printing sector has been correcting for a decade now due to heavy speculation when it came out (bubble) and problems with mass production. Still, there are very promising technologies in 3D printing! And it will for sure be used in robotics to make very light and durable parts.
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Long active, market bought at 14,20$ yesterdayNote
Here we have a weekly chart on the linear scale. The yellow parallel channel highlights the old uptrend from the early years of the stock. The middle line of this channel was backtested as support at around 11.50$ and then formed a inversed and and shoulder which just broke out yesterday. The price target for this structure is around 20.50$.
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Here we have the daily setup on the linear scale, all coming together nicely with the 1.618 being backtested as support while the daily RSI is also backtesting the 50% line as support.
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Possible bull flag forming on the 4h00 chart. RSI oversold and found support on 350 MA
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It was indeed a bull flag.
Measured move points to about 21,38$
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Target reached for this move. Could take some profit here and let the rest ride.
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This years old bullish divergence keeps getting bigger and bigger. Price has revisited the blue trend line again, and again, bounced off of it. This could be a good time to buy some shares.
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