Monday, December 29, 2014

[DDD] (3D systems) looks ready for a significant bounce

DDD is a leader in 3D printing - a field which has a bright future to say the least.  Additive manufacturing is going to expand and grow in the future because of all the low cost, custom parts that can be developed using the tech.  It makes it quick and easy to prototype new ideas.

But the shares got ahead of themselves in panic buying and darned near hit $100.  They have been giving it back ever since and they now trade at ~$33.  These could have one more wave down into the $25 range so I would buy here and stop out at $30.It's hard for me to count 5 up on the left.  It looks more like an a-b-c.  So I would not guarantee that the next wave up is a 3rd but it might just be.  This could be forming a large HT but that still means a ride to $70 ish.

This has a lot of the characteristics of a deep vee 2nd.  Wave C going down is now the same size as wave A and that is a popular place to reverse.  Also, the chart stopped at the same level as the last big dip down which happened on the way up.  I'm usually not big on buy and hold but if this finds support here I could see how many people would want to buy and hold.  This company is in the right field at the right time.


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