3D Systems Gets Ugly
Chris Kimble | Feb 05, 2015 03:20PM ET
noted that an Eiffel tower pattern had formed in 3D Systems Corporation (NYSE:DDD) and support was breaking. That pattern and support break was not a good sign for this one-time darling of Wall Street.
Eiffel Tower patterns can really put the screws to an asset. When they form -- and support breaks -- assets often decline back to the base of where the pattern started.
Even though a year ago DDD had already been soft for a while, it has since lost 50% more.
Whomever still owns DDD, they'd best hope that the potential shelf of support holds in this zone or it could get even uglier on the downside.
Was this a crowded trade a little bit over a year ago? I'll let you be the judge of that.
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