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Technical Analysis MTLS - an upside potential of minimum 25%

Updated: Nov 20, 2023



Today we are going to examine the trend of Materialise NV which is a leading 3D printing player. The stock is not part of the 3DE-10 INDEX that tracks the stock performance of 10 leading 3D printing companies listed on exchanges in the United States, but might be part of it in the future.


If we examine the stock performance in the past 12 months, we can identify a clear negative trend, reaching it's lowest level this year of $4.96 on Oct 23rd.

Image source: Yahoo finance


Since this bottom level we are seeing a short upside trend, taking the stock to it's current price level of $6.12. How much upside potential the stock has for the coming weeks? Let's examine the price trend using four simple moving average indicators of 6,13,26 and 50 days:

Image source: Yahoo finance


During the last week of October, the stock moved up, crossing all four moving average indicators, when the last one was at $5.7 level (the 50 days moving average). This is clearly a positive sign with a nice potential up. How much potential this upside trend has? Let's zoom out to check:

During the first half of 2023, the stock had a strong support level around $7.5-$8, where buyers accumulated a large amount of shares. During August the stock broke this level down, all the way to the $4.96 level.


A known technical rule is that a strong medium-term support level, will become a significant resistant level. Therefor, most chances the current positive trend will continue, and may stop only around the $7.5-$8 range, meaning a 25% move up from it's current level.


> 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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