SSYS: Bottom confirmed and successful backtest, what's next?SSYS: Bottom confirmed and successful backtest, what's next?
-Quasimodo pattern.
-ABCD pattern.
-Bottom confirmed and successful backtest with low supply volumes- good signals for reversals here.
-Demand zone support.
-Key level support.
-Fibo retracement at golden zone.
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Let's go!
SSYS trade ideas
Are 3D Printing Stocks About To Make an Epic Comeback?Ladies and gentlemen, traders of all ages, today I am sharing an idea about 3D printing stocks trading at remarkably low levels considering the following points:
1. They've been through several "hype cycles" already.
2. They've been improving the tech for 10+ years now.
3. But most importantly, generative AI is about to unlock ridiculously powerful capabilities that speed up design and printing times for all services.
The key factor is that AI might just be the match that takes 3D printing to true mass adoption. This is what everyone who has ever followed 3D printing has been waiting for. It's the only way these companies can truly grow to their next stage.
Here are some cool facts to consider that are all data points created BEFORE the usage of AI to spark new ideas, support design, create mockups, and even create underlying code for specific printable items – thus imagine how these facts change once updated to the emergence of AI:
Rapid Adoption Across Industries: The global 3D printing market is expected to grow at a CAGR of 21% from 2021 to 2028, driven by increasing demand from industries such as healthcare, aerospace, and automotive.
Automotive Advancements: Companies like Ford and BMW started using 3D printing for prototyping and manufacturing complex parts, significantly reducing production time and costs.
Aerospace Applications: Aerospace companies started leveraging 3D printing to create lightweight, durable components for aircraft and spacecraft, enabling them to test concepts faster and on site.
The two companies I have on this idea and chart are NASDAQ:SSYS Stratasys (SSYS) and NYSE:PRLB – while I like Desktop Metal, the simple fact is that SSYS and PRLB seem to have better balance sheets and income statements. Their financial health is far more robust with less debt, also.
In the coming weeks, I am going to publish more research about why I sense a return to this industry.
Stay tuned!
Please always remember I publish for my own education and entertainment. None of this is advice! Do your own research. Check out all of the ideas on my TradingView profile for me and be sure to press that boost button if you liked this idea.
Intuition pick SSYS to $15On Sunday I was getting some "s"s in my intuition and kind of picked up on SSYS. I checked with dowsing if this was accurate and got a "yes". I didn't see when earnings were, but I think they just had them as I just spotted it was up 8% today.
In my intuition I got the number 18, which normally I would consider is a price, but I let my dowsing choose the target price and get 15. If I take the price around the close Friday and add 18 percent, that gets it to 15. So I'm saying this is going to just above $15.
SSYS Price Action AnalysisSSYS is an industrial 3D printing company.
Price action is suggesting we have formed a bottom around 10.
If we have a nice close bullish close, above 11.37 in the next couple of day, then the bottom should be in for now.
Stop can be placed below 10.55 and first target is 23.6% Fib at 12.70 (there is a gap there which will acts as a magnate for prices).
Ultimately, 14.40
SSYS Monthly bullish divergence on the RSIHere we have a log scale monthly chart of SSYS. The 1.618 level at about 14,30$ 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.
SSYS ascending channel looking for an entryI am looking for an entry for a call setup for SSYS, if it manages to come back to the bottom range of the channel that would be a decent entry point. I would then look 45-60 days out for a strike price as designated by the channel along with horizontal supports.
Watchlist 2023-04-04 $SPY $RIG $SYSS $EVGO $IONQ SPY - the grind higher continues as SPY approaches the all-important Jan 30 pivot of 418. Over the last week SPY has either held the PM support or PD high. Looking for either of those levels to hold to potentially expect higher prices later on as we haven't needed the $ADD pinned near +\-2000 and $VOLD ratio over +/- 3 and $TICK cumulating past 0 wicking to +/-900 to see those trend days lately.
Oil stocks - higher as a group with crude trading up more than 6% premarket the move following a surprising announcement by OPEC+ to cut more 1.1m barrels per day of current production. Second day continuation in play.
$RIG - 2nd day follow through over 7.10
$SYSS- E MW Nano Dimension increases takeover offer for Stratasys for $20 a share. The board of Stratasys, a 3-D printing company, will review and evaluate the proposal. Big opportunity as there is about $3 of room to the $20 offer price. Be cautions as the offer is being reviewed and is not accepted. RVOL is only 1 at this time, but three green body bars PD with a wick yesterday. Gapping over all resistance so plenty of room to 20.
Other Watches
$EVGO - if support is confirmed at 7.00 (PD low and 20 EMA) , looking for a bounce trade to 7.60 as EVGO is still in play following an incredible earning report.
$IONQ - over 6.50 for a 3rd day continuation.
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SSYS broke out of the falling wedge pattern and is now flaggingNASDAQ:SSYS broke out of the falling wedge pattern and is now flagging, a potential head and shoulder pattern is in the making as well, more gains are expected. Anticipated price action and targets are shown on the graph, stop daily close below 20$.
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This is only my own view and not a financial advice, do your own analysis before buying or selling
Happy Trading!
3D printing LongI personally Like $SSYS rather than DDD or NNDM, but you could make this case and chart for most of them. The point is there are a lot of resistance bands for these stocks to over come just to even reach their previous highs. It took 3 months to finish their first wave and most third waves are longer than their first. I am targeting leap options on these stocks $SSYS Sept 55c seems to have some volume already.
SSYS: Will it make a new all time low?Figured I'd keep the trend of 3D printing stocks going. This is one I bought after the "crash" and just sold for a loss. After seeing it not reverse I felt I should re evaluate my analysis and see where I went wrong. I thought the correction was over at the 11.91 low. bought on a setup on the 1hr which initial looked good, but then became a flat to continue down. I'll post that in the comments.
I see some inverse correlation between this and the 2 other print stocks I follow DM, and NNDM. It looks like both of those are getting ready to continue on the uptrend, and this one looks like it will continue down to make another low. After this happens I'd like to look for buy setups again. Until then I'm watching for a correction within this bearish impulse to confirm my current count.
What's your favorite 3D printing company? Thanks for looking!
Stratasys (SSYS) Swing TradingIntroduction : After rushing up vertically, 3d-printing stock Stratasys is currently moving sideways with a tendency for further gains, which is however not yet confirmed and opens up possibilities for swing-trading in rather short timeframes.
Analysis : The midterm-upward trend has been left, with the last highs forming a slightly downward moving resistance which is currently being tested. A triangle is formed, taken into account the short-term downward trend that was created when leaving the mid-term upward trend. The distance between both trendlines currently amounts to roughly 11 percent, opening up short- and long opportunities.
Idea :
- Shorties might issue an order at the current price level (45.90) with the aim to take profit at 42.39, where a rebound seems likely due to further resistance. In this case, a stop-loss should be placed slightly above 46.49 (e.g. at 47.00), as an outbreak beyond this level, else, could lead to significant losses.
- Alternatively (or subsequently) traders might wait and seek for a a long-position at 42.39, aiming to take profit at 45.90 in an expected rebound.
- Depending on risk propensity, long-investors might further consider a second tranche to be bought at 40.56 with a tight stop-loss placed at below 39.01.
- Alternatively, a stop-loss at 40.56 makes sense (to allow some volatility on the way upwards, which is expected due to the likely rebound).