by Sam Collins | February 21, 2014 1:32 am
3D Systems (DDD) — This stock has been on the Trade of the Day buy list since I recommended it on Aug. 12 under $47.50. I remained bullish with recommendations on Aug. 27, Oct. 10 and Nov. 8.
On Jan. 30, I recommended that DDD be bought under $70 with a trading target of $80-plus. However, since my last review, analysts have either reduced earnings estimates or they are now under review at many firms.
The stock fell sharply on Feb. 5, triggering my buy under and hitting a low below $55. It has since made up those losses and exceeded my target on Thursday.
It is now prudent for those who purchased the stock to place a tight trailing stop at $78. It is likely DDD will run into selling at its 50-day moving average at $84.
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