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VoSI VooDoo(TM) Report - June 6, 2017

The VoSI VooDoo Report

Offbeat Ideas and Commentary from the Depths of Gil's Trading Notes

3-D stocks have been resurgent lately, with both Three D Systems (DDD) and Stratasys (SSYS) throwing up some huge moves after posting bottom-fishing pocket pivots in early May. Over the past 3-4 weeks both stocks have consolidated and corrected after the initial sharp upside moves off the lows. Below we see DDD holding tight along its 20-dema as it pulls back on low volume to test the low of five trading days ago on the chart. Volume is picking up this morning as I write, but the consolidation along the 20-dema has been tight and on low volume so this may push back above the 20-dema.

SSYS is a little more concrete here as an undercut & rally set-up after undercutting the prior 26.83 low from May 16th and rallying back above it and the 20-dema four trading days ago. It is now settling into the 20-dema in tight fashion as volume dries up to -48% below average today as I write.

The consolidations following sharp prior run-ups look normal to me, even with some heavy-volume selling off the peak. Some profit-taking is to be expected after such torrid upside moves. As they tighten up along their 20-demas this may become buyable here for those oriented towards the Ugly Duckling side of this market. In this case SSYS is a U&R set-up, while DDD is working on posting a successful Wyckoffian Retest today. I am testing both of these stocks on the long side this morning with tight stops.

This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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