(This is not financial advice)
Hello everyone, this is some TA I did for my watchlist over the weekend on Desktop Metal. For anyone not familiar this is a 3D Printing stock and will do very well long term in my opinion. This stock has a had a big sell off and is very oversold.
I am a big fan of Desktop Metal and have done a full fundamental analysis on it. This company is a great long term hold or awesome for short term swing trades. This stock has fallen more than 50% in the past month or so but is a very solid company and will do very well in the 3D Printing space. Like PLTR people are moving into these types of innovation stocks now or will start to soon and all these stocks are on sale right now. If it bounces to all time highs you can see over a 100% gain but if it bounces to a very strong support at 21.50 you will still almost have a 50% gain. The odds of it falling below this strong support are pretty low. The RSI is rating it oversold and coming out of this head and shoulders along with everything else I am very bullish on this stock.
Let me know what you guys think of this trade and the company in the comments. Along with a like and follow if you like my ideas.
Thanks!
- Vlaire
Hello everyone, this is some TA I did for my watchlist over the weekend on Desktop Metal. For anyone not familiar this is a 3D Printing stock and will do very well long term in my opinion. This stock has a had a big sell off and is very oversold.
I am a big fan of Desktop Metal and have done a full fundamental analysis on it. This company is a great long term hold or awesome for short term swing trades. This stock has fallen more than 50% in the past month or so but is a very solid company and will do very well in the 3D Printing space. Like PLTR people are moving into these types of innovation stocks now or will start to soon and all these stocks are on sale right now. If it bounces to all time highs you can see over a 100% gain but if it bounces to a very strong support at 21.50 you will still almost have a 50% gain. The odds of it falling below this strong support are pretty low. The RSI is rating it oversold and coming out of this head and shoulders along with everything else I am very bullish on this stock.
Let me know what you guys think of this trade and the company in the comments. Along with a like and follow if you like my ideas.
Thanks!
- Vlaire