Today we are going to examine the trend of 3D Systems stock which is part of the 3DE-10 INDEX, a 3D printing stock index tracking the stock performance of 10 leading 3D printing companies listed on exchanges in the United States.
The stock started 2022 around $20 a share, and since April last year has been trading in a negative trend. Since January this year the stock has gained over 30% and the momentum looks positive. What are the chances the stock will continue this trend, and where is the long-term resistant level?
Image source: Yahoo finance
If we examine the price levels of the past 12 months, we can see that over time the sellers are unloading shares in lowers points - $13 a share in August 2022, around $10.70 in November 2022, and above $9 a share last week. Therefor, for now.. the last upside trend is only a correction in the long-term negative trend.
Image source: Yahoo finance
If we examine the long-term trend using the 50 & 200 days moving average, we can see that any price point or move below the $10 level, doesn't change the overall picture.
The 200 days moving average at $10 a share is expected to be a strong resistant level. If the stock will cross this level in high volumes, and will remain there for several days, only then we could say that the chances for the negative trend to end is high. However, if the stock will not cross the $10 level, it is expected to drop back down to $7 a share, or even lower..
> Any opinions, analyses, prices, or other information contained in this overview are provided as general market information for educational and entertainment purposes only, and do not constitute any investment advice <