$DDD — Reset and ready to rock

(Click chart to enlarge)

(Click chart to enlarge)

3D Systems broke out of the wedge to the upside, consolidated above the 10MA for a few days and looks ready to test those highs once again.  MACD cross and rising moving averages.  I would imagine if futures remain where they are (/ES +15.00) we are going to see a gap up.  The plan is to trade this long above the opening bar on the 5 min chart.  Will be watching the July 26 48C to play this.  Resistance levels come in at 48.87, 50.98, 51.94.  Once those are cleared, PT would be $55. Earnings are scheduled for July 30, something to keep in mind for swing traders.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s