Stratasys Hovering Above Major Support Level

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.Stratasys, Ltd. (NASDAQ: SSYS) shares were trading lower $1.59 (3 percent) at $52.07 in Tuesday's session. The decline is taking despite comments at the 3D Printing Summit from its CFO that verticalization investments will provide long-term growth for the company, but would likely not make a meaningful impact on 2015 earnings.The issue, which was the last one to crater in the 3D printing sector, is clinging to major support in Tuesday's session at the $51.50 level. The reason for that being on February 2, the company announced weak guidance for 2015 and in one trading session it swooned from the February 1 close of $80.08 to $51.55 before recovering to close at $57.36.See Also: Jefferies' Key Takeaways From 3D Printing SummitAfter a rebound rally to $67.75 on February 13, the issue has drifted lower as Wall Street analysts have abandoned the issue. When failing to impress investors at the 3D Printing Summit, the issue plunged off the opening to $51.50 before rebounding into the $52 handle.Stratasys is on track for its third above average volume day in a row, which may represent capitulation by the supporters of the issue.