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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. Yesterday's price range of $8.41 and $8.77 is within the prior day'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.

In the past 52 weeks, shares of 3D Systems Corp have traded between a low of $7.81 and a high of $21.78 and closed yesterday at $8.49, which is 9% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 2% while the 50-day MA has declined 2.3%.

3D Systems Corp has overhead space with shares priced $8.49, or 17.2% below the average consensus analyst price target of $10.25. The stock should run into initial resistance at its 50-day moving average (MA) of $9.33 and subsequent resistance at its 200-day MA of $12.46.

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 am inside day candle 3d systems corp

Ticker(s): DDD