Stratasys Ltd. provides additive manufacturing (AM) solutions for the
creation of parts used in the processes of designing and manufacturing
products; and for the direct manufacture of end parts. Its AM systems
utilize its patented fused deposition modeling and inkjet-based PolyJet
technologies to enable the production of prototypes, tools used for
production and manufactured goods directly from three-dimensional (3D)
CAD files or other 3D content. The company offers entry-level desktop 3D
printers for idea and design development, a range of systems for rapid
prototyping, and production systems for direct digital manufacturing
under the Dimension, Objet, Fortus, Polyjet, SolidScape, and MakerBot
brands. The company also operates Thingiverse, an online community for
sharing downloadable, digital 3D designs; and GrabCAD Community for
mechanical engineers and designers.
Take a look at the 1-year chart of Stratasys (Nasdaq: SSYS) below with my added notations:
SSYS started a steady decline back in September that lasted until
February. During that time the stock formed a very nice trendline of
resistance, which was finally broken earlier in April. After breaking
that level, SSYS made its back way to the $60 level that had not only
been a prior support (blue), but it had also been a prior resistance
(green) back in March. Now that the stock has broken above $60 too,
higher prices should follow.
The Tale of the Tape: SSYS just broke back above
$60. A long trade could be made at that level with a stop placed under
it. However, a short trade could be considered on a break back below
$60.
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