Desktop Metal Inc (DM): Price Now Near $7.24; Daily Chart Shows Downtrend on 100 Day Basis

The Hourly View for DM

Currently, DM (Get Ratings)’s price is up $0.03 (0.4%) from the hour prior. The hourly chart shows that DM has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Of note is that the 100 hour changed directions on DM; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

DM ranks 30th in terms of today’s price percentage change out of Computers stocks.

DM’s Technical Outlook on the Daily Chart

Currently, DM’s price is up $0.03 (0.42%) from the day prior. The daily chart shows that DM has seen 2 straight up days. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. The chart below shows DM’s price action over the past 90 days.