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DDD technical analysis - will sellers keep dominating the negative trend?



It's time to examine the trend of 3D Systems' stock which is part of the 3DE-11 INDEX, a 3D printing stock index tracking the stock performance of 11 leading 3D printing companies listed on exchanges in the United States.


If we examine the stock's chart since July 2023, we can easily notice that the stock has been trading in a clear negative trend, when each time sellers are unloading shares in lower levels.

On the other hand, buyers appears in the range of $3.5-$4.0 a share, which is as of today, a strong support level for the stock:


Image source: Yahoo finance


If we zoom in to the last few months, adding the three technical indicators of 13,26, and 50 moving average, we can see that the stock is trading below them, a clear negative signal. As long as this is the case, sellers will dominate and the stock will continue it's negative trend:


Image source: Yahoo finance


What's next? The stock seems to be close to examining the $3.5-$4.0 support level. If strong buyers will not appear in these levels, the stock is expected to set a new low, when $3 a share will be the reasonable price target. This level will reflect a market cap of only $400M dollars.


> 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 <

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