Don’t Miss the Next Leg of 3D Systems’ Rebound

The next stop for DDD is likely its 200-day moving average

   
Don’t Miss the Next Leg of 3D Systems’ Rebound

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. On Feb. 21, after hitting my $80 target, I said it would be prudent for those who purchased the stock to place a tight trailing stop at $78. That stop was triggered the next day.

On May 28, I said to buy DDD under $50, following the announcement of a 5.9 million-share offering of common stock, which would dilute shares and likely result in an immediate pullback. I advised traders to use a stop-loss at $43 and a trading target of $65.

Following that recommendation, DDD traded to a low of $48.10 on June 5. On June 11, it reversed at $48.27 on a signal from my proprietary indicator, the Collins-Bollinger Reversal (CBR).

Now at just under $58, DDD offers a trading opportunity with a target at its 200-day moving average near $64. Long-term investors may want to hold this stock for even greater gains.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/06/trade-day-3d-systems-ddd-8/.

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