3D Systems could regain its upward trend after having run out of steam.
The group enjoys upward revisions in earnings per share and growth prospects. Indeed, the Thomson Reuters consensus expect sales to grow by almost 30% this year.
The security is in a bullish trend in the medium and long term. In weekly data, moving averages are well-oriented. The increase has been stopped by the USD 46.5 resistance and came back to the USD 33.7 support, level corresponding with the 100-day moving average and the bullish trend line. Prices are clearly in an oversold situation and may return to the USD 40 short term resistance.
The decline observed in the short term offers an interesting entry point for a mid-term investment. Investors will take advantage of the current area to buy 3D Systems. The objectives will be set at USD 40 and by extension USD 46.5. The stop loss will be triggered below the USD 33.7 support.