NNDM descending wedge
Hello, seeing $3 broke really put a lot of people unease with on the day it broke we were up 10% premarket than a dump of 5k shares and we've been falling ever since. Now long term still bullish and think we will recover out of this. Before we get into the descending wedge idea lets talk about related news.
News
-China reopening: gives hints of the buyers that backed out cause of the virus might reorder their 3d printers and we will be expectations again
-NNDM has a webinar on its tech on Friday at 10am-11am (not sure time zone) source is Phytect New Dimensions (no idea who they are)
-Today someone purchased/filed that they now own 9% of the shares of NNDM (bullish cause why would you take a stake in a company if you think its not gonna go anywhere)
-NNDM decided to take themselves off of the Isreal market and if you have shares you'll get 50:1 from that market (probably due to the fact theres no volume, so I don't see this as bad news and think its great with more liquidity can come into the US market or even the Germany one which is trash volume for NNDM ticker 2N5B)
Thats all the News I have overall not bad and hugh volatility coming up, TA
-Now one source has us going to 7.5, but lets get pass $4 first lol
-We broke the 2.98 support and headed down, so i decided to look at the chart and noticed we are forming a wedge so i looked up a descending wedge pattern, yet this could be one but I can't really tell since the rsi is oversold and we having shit volume.
-the descending wedge is the doted purple ines heading down that inch closer with them meeting at the 2.30ish range
-Yet we are still in an uptrend shorta at 2.39 being the low
-So theres two plays that are bullish
1. We are in a decending wedge and looking for a breakout tomorrow or Friday which is where the wedge cross/meet
2. We go double bottom at 2.39ish range
-The ema on the ext hours have dipped below 2.70, so a bounce back to that area is likely since its still in the decending wedge, so we are looking for a breakout of 2.70 to confirm this was a descending wedge
-First target is 2.98 than a range between 3.42-3.90 with 3.31 thrown in there. With last $4
Now i personally decided to use the rest of my money and bought more shares at 2.62 with my average in at 1.60. Again i think this sell off is done and think its just now overblown with moon buyers selling off if you take a look at webull free stuff on the app. You see the short term buyers/sellers are high meaning people bought than they just sell seeing it drop. Wish guys the best of luck and still think the next 60 days is bullish.
News
-China reopening: gives hints of the buyers that backed out cause of the virus might reorder their 3d printers and we will be expectations again
-NNDM has a webinar on its tech on Friday at 10am-11am (not sure time zone) source is Phytect New Dimensions (no idea who they are)
-Today someone purchased/filed that they now own 9% of the shares of NNDM (bullish cause why would you take a stake in a company if you think its not gonna go anywhere)
-NNDM decided to take themselves off of the Isreal market and if you have shares you'll get 50:1 from that market (probably due to the fact theres no volume, so I don't see this as bad news and think its great with more liquidity can come into the US market or even the Germany one which is trash volume for NNDM ticker 2N5B)
Thats all the News I have overall not bad and hugh volatility coming up, TA
-Now one source has us going to 7.5, but lets get pass $4 first lol
-We broke the 2.98 support and headed down, so i decided to look at the chart and noticed we are forming a wedge so i looked up a descending wedge pattern, yet this could be one but I can't really tell since the rsi is oversold and we having shit volume.
-the descending wedge is the doted purple ines heading down that inch closer with them meeting at the 2.30ish range
-Yet we are still in an uptrend shorta at 2.39 being the low
-So theres two plays that are bullish
1. We are in a decending wedge and looking for a breakout tomorrow or Friday which is where the wedge cross/meet
2. We go double bottom at 2.39ish range
-The ema on the ext hours have dipped below 2.70, so a bounce back to that area is likely since its still in the decending wedge, so we are looking for a breakout of 2.70 to confirm this was a descending wedge
-First target is 2.98 than a range between 3.42-3.90 with 3.31 thrown in there. With last $4
Now i personally decided to use the rest of my money and bought more shares at 2.62 with my average in at 1.60. Again i think this sell off is done and think its just now overblown with moon buyers selling off if you take a look at webull free stuff on the app. You see the short term buyers/sellers are high meaning people bought than they just sell seeing it drop. Wish guys the best of luck and still think the next 60 days is bullish.
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