Clear sell signal to go short in Nov 2014 at 101,97 $.
Click here to know some ins and outs of short selling.
Today the stock is at 30,62 $ and trying to find support around its EMA 233.
I would take profit and close the position.
On the weekly chart I got the clear sell signal on 03/11/2014 at 103,07 $.
The stock broke that week 3 EMA's and formed an impressive bearish engulfing candlestick .
Besides that candlestick formed an outside reversal pattern , destroying 5 weeks of candlesticks.
Right now the weekly chart remains negative but the daily chart points to a downtrend that is running out of breath.
The stock surged 6,21 % the last session.
There isn't any valid buy signal yet but it seems wise to lock in the profit from the short position.
Stratasys (SSYS) is a small cap technology stock in the industry of computer peripherals.
The upward move was probably caused by analyst Jason North from Jefferies.
He said that Hewlett-Packard could acquire Stratasys and speed up its 3D printing roadmap by a year or two. Read the whole story.
An analyst view, such as a possible takeover, should be handled as background information.
Price action of a stock is the key to take investment or trading decisions.
Arturo Botticelli,
kiss4emm
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