3D Systems Corporation: Don’t Fear, the DDD Stock Bull is Still Here
- Buz Investors DDD Stock Bull I have stated previously that I am bullish on 3D printing companies, and 3D Systems Corporation (NYSE:DDD) is one that I favor. There has been a slight setback in the price of DDD stock, but the price action has done little to change my bias that was generated using the price chart.
- I am a huge fan of 3D printing, I believe this technology is only in its infancy. The technology will eventually shape and change our futures in a efficient and timely way.
My current views have nothing to do with my emotions, however; they are completely and objectively based on the signals that I was able to pull off of the DDD stock chart.The following chart illustrates the 3D Systems stock chart that first piqued my interest in this investment.
DDD Stock Bull Still Bullish
DDD Stock Bull The downtrend on the DDD stock chart above is clear and concise. This trend line is created by connecting the peaks of the price chart. A downtrend is defined by price action as the trend moves lower. All downtrends have a similar characteristic of lower lows and lower highs, and that is why trends appear as staircase patterns on a price chart. There is no mistaking an uptrend from a downtrend, as it can easily be identified as the price moves from the upper left to the lower right.
In April 2016, DDD stock generated A golden cross. This is a bullish signal that is produced when a 50-day moving average,
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highlighted in blue, crosses above a 200-day moving average, highlighted in red. This is a lagging indicator that traders use to confirm that a bull market is on the horizon. I always found it wise never to trade against the direction of this signal. As a result, I can only hold a long or neutral position in the face of this signal.
3D Systems stock is still trading above the 200-day moving average. This moving average is the dividing line between stocks trading in a bull market versus stocks trading in a bear market. When the share price is above the moving average, it is bullish; when the share price is below the moving average, it is bearish. It is not uncommon for support to be found at this level, as many traders will be eyeing it.Click here for reuse options!
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