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On Jan the 27th, the Power of the Pattern shared the upper two charts, reflecting that the darling of Wall Street, 3D printing (DDD), looked to have created an Eiffel tower pattern and was breaking support. (see post here)
2014 has not been a good year for this darling, as it is off nearly 60% from its highs this morning. The bottom of this rising channel is a huge test for DDD, support needs to hold in a big way.
The Power of the Eiffel tower pattern continues to impact DDD, as excess buying in the stock is now reversing course. Often times the right side of the Eiffel tower pattern returns to the price where the left side started. Investors need to be aware of this fact and that if support breaks, selling pressure could well pick up speed!
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