3D Systems Rally: Old Rumor, Same Response

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

3D Systems Corporation DDD shares were trading higher by $1.16 (5.6 percent) at $21.70 in Tuesday's session. The catalyst for the rally is a resurfaced rumor the General Electric Company GE may make a bid for the troubled three-dimensional printing company.

Interestingly, the issue had been trading higher before it received the boost just before 11:00 a.m. ET. Off the open, it found support it had found in its last five trading sessions as it bottomed between $20.39 and $20.48 in all of those sessions. Today's low stands in the middle of that range at $20.43.

So far, it has rallied to $21.70 and has not backed off from that level. That marks the highest level for the issue since it peaked on June 11 at $21.94.

The issue is on track to have a higher than average volume trading. At time of writing, it traded 1.8 million shares compared with its 20-day average of 1.79 million with over two hours remaining in the session.