RSI has bottomed, MACD in an uptrend. Poking it's head above 30week MA with earnings on deck. If this stays above 30 week MA and closes week post earnings above 30 week MA this will be entering stage 2 with clear stops below 30 week MA for a great risk reward profile. This stock has been bottoming and forming a base for months.
Because of my other plays, I placed some bull spreads and naked calls on PRLB to cover potential losses on another play I'm doing, OTRK. Playing some of these setups aggressive because it's more fun. I've shaved 60% position with profit and riding 40% for free which I'll trim even more or let ride.
Protolab breaks out to new highs
Good news also in the Market.
The stock is in a lot of ETF, where mony flows in. This also support this realitvly small stock.
Hey my friends, PROTO LABS is in a fake bearish configuration with high volume buy executed and an upside down hammer candle. Looking at the TIMEFRAME M1 we see an upside down hammer candle with a large sales volume, it reverses the trend on the low point. Which is at the lowest level of the bollinger, it goes on the VWAP which is in the bollinger to yield it and...
3D printing also known additive manufacturing can be a key technology that drives Industrial automation 4.0. This industry is expected to grow 10 fold this decade. 2021 could mark the beginning of this secular trend.
Breakout from a long base on strong volume.
