NNDM trade ideas
NNDM acquires Deep LearningNNDM an old stock I traded last year has acquired Deep Learning. This in return will help NNDM grow in the long the term by adding this AI too their machines for more precise pcb boards and other electronics. Competition with Deep Learning is none to my knowledge of in the 3D printing field. There are two other AI companies that could get acquired by another company that I know of which are Google's AlphaZero and DeepMind. Again in the 3D world there isn't much competition, which NNDM might rise to over $40 a share by eoy if the stock market picks up.
TA: in the short term
-RSI broke out which is bullish for a reversal/untrend
-MACD is bullish
-Downtrend as been broken, but now guessing there is a second. As an investor or speculator on the sidelines you may want to wait for a breakout above the resistance lines unless you feeling frisky.
-Resistance is at $7.58, $7.33, $7.79, and $8.16
-Support is at $7.14, $6.73, and $6.59
-We are close to the 50ema and hope for a breakout tomorrow. If not then NNDM will suffer on the fate of the whole market and not the news.
Final toughts
Seeing them get into AI they could have massive swings like VERI, which is another out AI stock that was a pennystock in price at the start of the pandemic. I will continue to watch this stock, but its risky jumping into an acquation trading with a bearish market. Most tech and growth stocks are down, so its very possible tomorrow this pump would be short lived. I give it a long, but I would remain neutral and could pickup a few shares. A guy on YT does the 33% trading style which is buy a $100 on day 1 wait buy another $100 on the dip and wait and spend your last $100.
How long do you think it is gonna last?NASDAQ:NNDM
On 16th April, the price action was bullish with a spike in the traded volume. Now I can't say for sure, but if it breaks the resistance shown with the black line at points A or C, the bullish reversal may be on the way real soon. But if it breaks the support at $6.68 at point B and $6.27 (orange dashed line), the next support will be at $5.35. So I guess we just have to wait and see how it will all play out.
This is not in any way financial advice.
*The solid blue lines are Fib retracement lines
**The dashed orange lines are Volume profile
NNDM LongNNDM an exciting 3-D printing company approaching an interesting technical inflection point. It is sitting on its long term support (previous resistance) and also appears to be near the bottom of a falling wedge pattern. With the tight coiled MACD begging to be bought, I am long and will sell if it violates the blue line of the "HODL area". Good luck at the Casino ;)
NNDM looking for a bounceNNDM looking for a bounce.
Might already be bouncing from Friday's close. Definitely one to watch on Monday as it is very close to support at $8.00. Failing that we can see a drop to around $6.75.
If one of these confirms the bounce, it will create a double bottom and I believe it will go up to at least $10 and possible $13.
Where depending on velocity it could form a bull-flag with good chances for success.
If it rips past 10~13, it will most likely form a bull-flag that will probably fail.
The pivot points are extremely important and beware that this stock has a considerable short interest.
What do you think will happen!?NASDAQ:NNDM
I don't think there will be much change in the price till Thursday, and by that, I mean the price action is in range (Figure on the right).
But I wonder!? I have noticed many people show the descending triangle, saying there will be a bullish breakout, but from what I see, depending on the time frame as shown in the first and second figure from the left, it could be either a bullish or bearish breakout.
Now I know no one can tell for sure what is about to happen, but I want to see how many people think it will be bullish and how many think it will be bearish.
I would appreciate any constructive criticism regarding the chart analysis as well.