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3D Systems Corp (DDD) to Confirm Bullish Reversal

Bullish Reversal Swing: DDD has been very bearish entering 2016, falling from its record high around 97 in 2014 to about 6 in January 2016. Since then, we saw a swing from 6.00 to above 19.00. 

DDD Daily Chart 7/11

(click to enlarge)

61.8% Fibonacci Retracement: After the 6 to 19.75 swing, price retreated sharply. The dip stopped around 12.00, just above he 61.8% retracement level. This kept DDD above they key pivot at 10.65. 

Consolidation Breakout: DDD is now consolidating above the 10.65 pivot and above the 61.8% retracement level. Price is starting this week by cracking the consolidation resistance. 

The above 2 technical events suggests that bulls are now in control of DDD, and that there is upside potential towards the 20.00 handle in the second half of the year.