Last but not least, XONE, after today’s down-gap — the second one in as many days — landed at a support confluence zone made up of its 50-, 100- and 200-day moving averages. The stock also needs to prove itself and show some commitment to the bounce that we are seeing so far today. A move back above $58.30 could give it some better footing for an upswing.
Bottom line: 3D printing stocks are not for the faint of heart, but if one maps out some well-defined technical levels as reference levels, much of the guess work and emotional aspect can be left out, and good probability trades can be executed on.
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Learn more about the strategies Serge Berger uses to create profits in the market every day. Download his trading plan in the Essence of Swing Trading e-book by clicking here. As of this writing, he did not hold a position in any of the aforementioned securities.