1DDD trade ideas
Technical Trade to $13.50 w/ Dual Fib Levels AligningThe 3D printing sector was upgraded this year and set to grow because of reduced costs with machines, materials and increased investments in R&D and manufacturing capabilities. I've personally bought a Crealtiy CR-10S to support a small, side business I have. 3D Systems Corp. has been hit hard and dropped to levels that were near a bottom. Through all the volatility in 2018 and its EC, it's held up, slowly sustained across a level and gradually moved upwards. Technical trading for the short term puts it near $13.50 with momentum and without going outside of its consistent range. As of this writing, levels are slightly under trend lines where accumulation is usually not a bad idea. Once it breaks out in its first fib pattern, the second, overlayed fib pattern shows some potential higher PT levels that could be reached if conditions are primed. Volume is never crazy, so I'd recommend setting about a month's time for a trade.
DDD: Buy the breakout and the crossoverBackdrop
Since the positive pre-announcement of last week, the stock has popped and broken its up-channel resistance at $12.
All the while, the SMA 50 has crossed the SMA100 to the upside, providing a "golden-cross" positive cross-over setup.
The stock has since given back some 8% - Been waiting for it to consolidate towards the resistance-turned-support.
Trade setup
Today, it looked compelling to buy the shares, which were further consolidating in a weak market.
Purchased DDD at $12.15, just above the support.
Expect the target to be reached in 4 months.
Risk analysis
Target $16
Stop $10
R/R 2x
DDD needs some affirmations*DDD looks to retest $9.80 before pursuing $11.42 and $12.28*
Good looking stock with momentum and volume. RSI is right in the middle, plenty of room to retest several price points.
Friday's bear volume was nominal, indicating that the confidence level is still good. If the bears came in and drove this price down further than $9.80, the next stopping point is $9.30, along Trending Support.
I think a good buy could be $9.80 with confirmation candles + volume, a dip buy at $9.30 with momentum.
*Let's see what happens!*
*Disclaimer- I am not a financial advisor. These are merely my opinions. Do your own research and formulate your own opinions regarding any moves you make. Seek professional assistance.
DDD needs some affirmation*DDD looks to retest $9.80 before pursuing $11.42 and $12.28*
Good looking stock with momentum and volume. RSI is right in the middle, plenty of room to retest several price points.
Friday's bear volume was nominal, indicating that the confidence level is still good. If the bears came in and drove this price down further than $9.80, the next stopping point is $9.30, along Trending Support.
I think a good buy could be $9.80 with confirmation candles + volume, a dip buy at $9.30 with momentum.
*Let's see what happens!*
*Disclaimer- I am not a financial advisor. These are merely my opinions. Do your own research and formulate your own opinions regarding any moves you make. Seek professional assistance.