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PRLB - a breakout is around the corner..

Updated: Jul 3, 2023

Today we are going to examine the trend of Protolabs'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.

If we examine the stock in the past 12 months, one level seems to be very interesting - the $36 level.

Image source: Yahoo finance

Since the price gap that was created in November 2022, it took four months to close it at the $36 level. Since then the stock is trading sideways, when few weeks ago it met again the $36 level but could not cross it.

Let's examine the same situation using additional technical indicators:

Image source: Yahoo finance

Interesting.. in mid-June the 50 days moving average crossed the 200 days moving average - a very good sign. The long term trend is changing from negative to positive.

What's next? The chances for the stock to check again, from below, the $36 level is high. If it will cross it in high volumes, and will remain above this level for three days, we can see a nice move up to the $40-$45 levels. All in all - looking good!

> 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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