Another falling wedge, this time in 3D printing stock ( NASDAQ:MTLS . A similar pattern can be seen in NASDAQ:SSYS but less clear and the stock is more volatile. Plus MTLS is Dutch and I like Dutch approach to new technologies. They know how to make things work. Quick googling tells me that Materialise is one of the best stocks in the industry. Debt levels are...
Today at the market open (Jan 7), the equity trading system Equity Trend will open a long position in Materialise NV American Depositary Shares (ticker: MTLS)
Each day, the system scans around 10,000 stocks to find just 1 or 2 which are ready to move immediately.
The system combines elements of breakout trading, trend following and risk management from Turtle...
Materialise, hits a new 52-week high after breaching way above its price resistance at $16.76. The company is a rapid prototype designer and manufacturer that focuses on 3D imaging software.
There are currently no news of an impending merger or acquisition. However, there is a suspicious large volume of buying.
Current price support is at 17-18 USD per share.
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We might have a technical breakout pattern in the works here, as soon as the trend lines and resistance line start to get broken, look to buy, this just might be heading to the moon!
Wait for the main resistance break and buy in, or wait for the neckline break to be sure!!!
DUE TO LARGE POSITIVE TRADING VOLUME OF MTLS IN PREVIOUS DAYS, THIS TIME MAY YIELD ENOUGH MOMENTUM YO SOAR ABOVE ICHIMOKU RESISTANCE CLOUD, TEMA IS POSITIVE AND CCI IS RISING.
