Will the breakout hold ?
Updated
With incredible QOQ results (68% improvement QOQ), the recent acquisition of ExOne (which is the main reason for stock's decline due to dispute in stock compensation of ExOne's shareholders) and now Aidro, which has been 3D printing hydraulic-related parts, the fundamentals of this growth stock look pretty strong, while the share price is near its all-time low. It looks like a good time to accumulate long position in this stock with a multi year timeframe.
On the technical analysis side, DM broke out of descending wedge and has met resistance at 9$. If we can cross that, more upside is to follow..
Disclaimer : This is not a financial advise. I analyse charts for educational purposes. However, I hold long positions in DM stock.
On the technical analysis side, DM broke out of descending wedge and has met resistance at 9$. If we can cross that, more upside is to follow..
Disclaimer : This is not a financial advise. I analyse charts for educational purposes. However, I hold long positions in DM stock.
Note
Sideways consolidation is in progress. Key levels in near term are 7.75$ and 9$ level. If we break that on the upside, the bullish momentum could start. On the downside, we haven't seen any demand level forming for the stock yet conclusively. If we break 6.75$, we could go lower. See comments for the updated graph levelsTrade closed: stop reached
Disclaimer
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