• Chart of the Day – Reader Request Edition: 3D Systems (DDD)

    by  • March 11, 2013 1:46 pm • Charts to Watch, Quick Hits, Tony Venosa's Chart of the Day • 0 Comments

    Today’s chart comes courtesy from a number of reader requests for 3D Systems (DDD) which develops, manufactures and markets 3D printers, print materials, on-demand custom parts services, and 3D authoring solutions for professionals and consumers.

    Ticker:  3D Systems (DDD)

    What I Am Looking At:

    • Outperformance on a year-over-date basis, +126 percent
    • Lagging on a year-to-date basis, down  7 percent
    • The above daily chart shows a series of two lower highs and two lower lows in the past two months signifying short-term downtrend in effect
    • Long-term trend is still up
    • Visit to round number $30 level looks probable
    • High short interest (29 percent of the float) could provide tailwinds for shares
    • Analyst community divided on DDD as 3 out of 7 rate the shares a “hold”
    • Strong quarterly earnings growth (yoy) +85 percent and strong quarterly revenue growth (yoy) +45 percent
    • 50-day put/call buy-to-open ratio is ranking in the 91st percentile of all readings taken during the past year, indicating a strong preference for puts over calls

    Strategy:  Look to buy at the $30 level or wait for short-term downtrend break

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    Tony Venosa, CMT is a Senior Options Strategist and works on the trading desk at Schaeffer’s Investment Research. He joined Schaeffer’s in 2010. He has worked in the finance industry for over 15 years. He began his career as a trading assistant in Chicago on the floor of the Chicago Mercantile Exchange. He later moved upstairs and worked as a commodities broker on both the retail and hedging side. He left the brokerage industry to begin his trading career as a proprietary equities trader at a Chicago firm. In 2000, Tony moved backed to his hometown and continued trading his personal account. He later went on to earn his Chartered Market Technician designation. He earned a B.S. in Finance from Miami University. Tony’s main focus is short-term directional option trading.


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