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Possible Bearish Inside Day Candle Pattern Detected for 3D Systems Corp (NYSE:DDD)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in 3D Systems Corp (NYSE:DDD) based on the price action in the company's shares. Today's price range of $8.52 and $8.77 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of 3D Systems Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

3D Systems Corporation provides comprehensive 3D products and services. The Company develops, manufactures, and markets 3D printers, print materials, software, haptic devices, scanners, and virtual surgical simulators. 3D Systems conducts business worldwide.

There is potential upside of 19.2% for shares of 3D Systems Corp based on a current price of $8.60 and an average consensus analyst price target of $10.25. The stock should find initial resistance at its 50-day moving average (MA) of $9.33 and further resistance at its 200-day MA of $12.46.

In the past 52 weeks, 3D Systems Corp share prices have been bracketed by a low of $7.81 and a high of $21.78 and are now at $8.60, 10% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.3% while the 200-day MA has slid 2%.

SmarTrend recommended that its subscribers protect gains by selling shares of 3D Systems Corp on March 7th, 2019 by issuing a Downtrend alert when the shares were trading at $10.98. Since that call, shares of 3D Systems Corp have fallen 18.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle 3d systems corp

Ticker(s): DDD