Pocket Pivot Review - DDD 8-23-16
3-D printing company DDD had a pocket pivot yesterday after volume dried up (VDU). The stock had been trading in a tight sideways manner adding to its constructive pattern. It gapped higher on its prior earnings report as earnings started to accelerate after a number of slowing quarters. These bottom-fishing pocket pivots (BFPPs) can work well on a time-value basis for brief holding periods though DDD could repeat the price action it had early this year when it obeyed its 10-day moving average for a number of weeks. The stock is pulling into its 10-day moving average, which puts it in a lower-risk entry position following yesterday's pocket pivot.
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