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MKFG Technical analysis - will investors see 1$ again..?

It's time to examine the trend of Markforged 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.

If we examine the stock's trend in the past few months, we can see that since August 2023 when the stock surged over $2, it is trading on the negative side. On October 24 this year, the stock dropped over 30% in one day, creating a clear gap. Since then, the stock is trading sideways, with no clear direction:

Image source: Yahoo finance

If we examine the same chart adding the 50 days moving average indicator, we can see that in order to start a positive trend, the stock must move above it. Currently, the level of this indicator is at $0.745:

Image source: Yahoo finance

What's next? as of today, there is a clear balance between buyers and sellers. The gap that was created on October 24 might be closed in the coming weeks, as most gaps do, but for this new buyers must enter the market. Without a push up, the stock will continue trading sideways.

> 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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