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Technical analysis for SSYS - will the $12 level hold..?



Today we are going to examine the trend of Stratasys 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.


The stock started 2022 around $25 a share, and now approaching a low level of $12 a share. Where will the drop is expected to stop, and if not, to where it can drop..? Let's start with examining the short term trend:


Stratasys - daily chart

Image source: Yahoo finance


Since May this year, the stock held a good support level around $16 a share, however during September it broke it down and fell to a new yearly low of $12.5 a share. Since then and until today the stock managed to trade above this level, but yesterday closed at $12.67 a share. Now let's zoom out to examine the long term trend:


Stratasys - weekly chart

Image source: Yahoo finance


In the past five years the stock's lowest point was set during September 2020 at $12.08 a share. As we are approaching this level, two things might happen, either it will hold or break down this level.


If the $12.08 level will hold, the stock may recover in the short term and might go down again to check this support level. However, if the stock will break this level down, well.. a free fall to $10 a share or even below is expected. Considering the market condition these days, an overall negative trend will push the stock down, and a new low level is ahead of us.


> 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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