3D Practices Corporation (DDD) shares have risen nearly 22% since their 52-week stunts back in early November. During the third quarter, the company reported interest that fell 2.2% to $152.9 million – missing consensus evaluates by about $10 million – and its net loss of 20 cents per share missed consensus beliefs by 32 cents per share. The stock responded to the news by falling adjacent to 20% lower on Nov. 1 after the market opened.
Analysts drink remained mixed on the stock. Stifel Nicolaus maintained its Hold calculating following the earnings announcement, but the firm lowered its price target to $11 per apportionment from $15. Stifel Nicolaus expects 3D Systems’ margins to take place under pressure from higher operating expenses in the near an understanding as it attempts to implement organizational changes. Meanwhile, Piper Jaffray analysts upgraded the parentage to Neutral from Underweight, citing new products coming out next year, but retained a $10 price target. (See also: 3D Systems Sinks, Lags Q3 Earnings, Annuls Guidance.)
From a technical standpoint, the stock may be forming a rounded origin as bulls look to close the gap made from its third quarter earnings proclamation. The relative strength index (RSI) remains neutral at 52.64, but the moving usually convergence divergence (MACD) remains in a bullish uptrend dating deceitfully to mid-November. The stock has been regaining momentum since making its 52-week lows, but the potent trend remains lower.
Traders should watch for a breakout from R1 opposition at $9.83 to the 50-day moving average and R2 resistance at $10.84 if the stock carry ons its move higher. The gap would be closed if the stock moves to around $11.50 to $12.00 per allocation. If the stock moves lower from these levels, traders should take note of for a move lower to the pivot point at $8.88 or a move to retest last lows near S1 support levels at $7.87. (For more, see: Is 3D Systems Too High-priced for Its Turnaround?)
Chart courtesy of StockCharts.com. The author holds no position in the have(s) mentioned except through passively managed index funds.