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Technical Analysis MTLS - which level will end the negative cycle?

Updated: Apr 30



Time to examine the trend of Materialise NV which is a leading 3D printing player. The stock is part of the 3DE-11 INDEX that tracks the stock performance of 10 leading 3D printing companies listed on exchanges in the United States.


If we examine the stock performance in the past six months, we can identify a clear negative trend since January 2024 and until today. However, during the past month, it has reached an interesting support level in the range of $4.80-$4.90 per share:

Image source: Yahoo finance


Double bottom for a stock is always an interesting testing point - will buyers continue to accumulate in these levels and provide the stock a strong support, or they will wait for lower levels to start buying again.


Let's examine the same situation using the moving average technical indicators of 13, 26, and 50 days:


Image source: Yahoo finance


Clearly, since the beginning of the year the stock is traded below these three indicators, which if a negative sign. However, last month the stock has been testing the 50 days moving average, trying to cross it up.


What's next? A first positive sign will be crossing and closing above the 50 days moving average level which is currently at $5.24 level. The second and a stronger sign will be crossing the $5.45 level. If this happens, the stock will end the negative cycle and will move to higher levels.


On the other hand, if the stock will not hold the support level of $4.80-$4.90, we can expect to see new lows, with a first price target of $4.5 per 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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