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DM - pay close attention to the $2.5 level!

Today we are going to examine the trend of Desktop Metal's 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.

First let's examine the long-term trend using the 50 days moving average, and the 200 days moving average:

Image source: Yahoo finance

Since March 2021, the stock has been trading below the 200 days moving average. In September 2022 the stock price touch it from below, around $3.5 a share, but couldn't break it to higher levels. Early March this year, the stock price jumped in high volumes over $2 a share, and since then it is caught between the 50 days to the 200 days average.

Let's zoom in to look at it from another angle:

Image source: Yahoo finance

The nice jump in March broke the negative short trend, and was stopped around $2.5 a share. Since then, we see the price goes sideways, waiting for the next move.

What's next? The short term looks promising, especially due to the high volumes when the price increases. The most important resistant level to watch closely is $2.5 a share. If the stock price will cross it in high volumes, we can expect a quick move up, with a price target of $3.5-$4 a share!

> 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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