Arcam AB (AMAVF) Chart Study, Weekly Market Outlook

Below is the chart of Arcam AB, ticker AMAVF:

This stock has enjoyed the benefit of 3D Printing hype in 2013, but has a lot more going for it than most of the companies widely touted in that sector in that it has products, clients, sales, revenues and even profits. 

Probably it's due for a correction, and certainly the trend lines on the chart suggest so.

We've been long since it broke through $50 earlier this year (not diarized on this site) and have a very tight stop now on most of the shares.  At this point, it looks a more tempting short than hold, and were we looking to go long - or to repurchase shares that might get sold - we'd look to do it below $70 and closer to $60.


Notes:

We'll post updated gold and silver charts and commentary over the weekend.

We're today starting a feature which we'll call "Weekly Market Outlook". 

Each weekend, more or less, we'll post what our outlook for U.S. equities is for the coming week(s).  This will be based purely on a statistical & technical trading system we've developed, the particulars of which we will not reveal at this time.

We'll offer no assurances.  It's worked quite well for us the past few years and perhaps it'll be of some use to our readers.

Our immediate outlook is bearish, and for the coming week that outlook would be rescinded only  if the DJIA closes over 15660. 

If you're short and the market is dropping, expect support circa 15300 and 15150.  On a big plunge there'd be support around 14900.  In other words, these would the levels at which to consider covering shorts.

We're already effectively short the overall market as per previous postings, and if we do close those positions we'll post the fact here.  



  



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