September 26, 2013:
Let’s take a look at 3D printing company ExOne’s stock chart today since we were stopped out of our position on Monday:
(click to enlarge)
ExOne’s stock has continued lower since Monday, and today it closed down 6.14% near the lows for the day on high volume. This shows that the big institutions are selling. Exiting the stock via my stop-loss order was the correct thing to do, and I am back on the sidelines.
I don’t see any obvious support levels for the stock, so it if anyone’s guess how low the stock may go. All I know is I do not want to own it at this point. Trying to catch the bottom is high-risk gambling. We let the stock itself tell us when it has bottomed, via price and chart patterns and volume.
I will watch ExOne’s stock chart for an established pattern to emerge in order to purchase it again.
I feel the 3D printing sector will be a huge gamechanger in the not-so-distant future, and I am positioning myself by owning all the major players. I already own the other two major 3D printing stocks – 3D Systems (DDD) and Stratasys (SSYS). My purchases of those stock are doing well. To review those trades please visit my post 3D Systems (DDD) and Stratasys (SSYS) Stock Purchases from July 1st, 2013. I bought 3D Systems at 44.60 – it is currently 55.69, and Stratasys was purchased at 85.00 – it is currently 103.94.
In addition, it looks like there will be a new player, German company Voxeljet. It recently filed for an IPO to go public. The Motley Fool published a profile of the company on September 24th: Voxeljet Upcoming Pure Play 3-D Printing Company IPO.
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