SSYS is a company from the 3D printing industry. It has been in an aggressive downtrend, losing more than 80% of its value since it topped out in 2014.
Looking at the weekly chart, I believe the stock has not bottomed yet. Price is at value after a class A bullish divergence, while the Force Index is oversold.
The daily chart shows a nice double top with a bearish divergence on the MACD lines, histogram and Force index. A text book shooting star candle made a false breakout at the double top.
If this won't prove to be a V shaped bottom, we should see this stock around 15$ again.
Looking at the weekly chart, I believe the stock has not bottomed yet. Price is at value after a class A bullish divergence, while the Force Index is oversold.
The daily chart shows a nice double top with a bearish divergence on the MACD lines, histogram and Force index. A text book shooting star candle made a false breakout at the double top.
If this won't prove to be a V shaped bottom, we should see this stock around 15$ again.
Trade closed manually:
Time to close, stock doesn't look so bearish anymore