Image source: Yahoo finance
Daily chart - support and resistance levels
2021 has been a great year for investors in 3D Systems with a general positive trend. Since March this year the stock is trading in a clear range of $20-40$ a share. Buyers are appearing in levels from $17 a share in may, to $25-$26 in the past weeks, meaning overtime they are buying in higher and higher levels. Sellers on the other had think $40 a share is the maximum level for the stock, which reflects a market cap of $5B dollars for the company.
Image source: Yahoo finance
Daily chart - moving average & volume
If we examine the two long term indicators - moving average 50 days (purple) and moving average 200 days (yellow), we can see that after the big jump in early 2021, the stock is trading sideways in a range of $20-$40 a share, but above these two moving average. In regards to volume, we can see higher volume then average in days the stock in surging over 10%.
One thing to notice, the 200 days moving average provides a nice support level for the stock.
Image source: Yahoo finance
Weekly chart - resistance levels
The weekly chart helps us to analyze the trader's behavior in a wider perspective. Here we can notice something interesting in the past two weeks - sellers are appearing above $30 a share, meaning for the short term they think these are attractive levels to sell.
At the peak point, $40 a share was again a strong resistance level.
Image source: Yahoo finance
Conclusions and future outlook
With a backup the 3D printing hype and high volumes, the stock is expected to continue it's positive trend. Short term support levels are in a range of $25-$26 a share, first resistance level is in $30 a share. If the stock will cross this level upwards, the road to $40 a share will be open. This level will be again hard to cross, but double with a backup of good news and high volume.
On the other hand, braking the support levels of $25-$26 a share will be a negative sign and may take the price to lower levels of $20 a share and below.
> 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 <