Nano Dimension Trades Higher After Q4 Print: Technical Levels To Watch

Nano Dimension Ltd. NNDM shares were trading higher Thursday amid the announcement of fourth-quarter and full-year earnings.

The company also announced the appointment of its President and CEO Yoav Stern to its board of directors.

Nano Dimension Technical Levels To Watch: The short-term, 5-minute chart above shows the stock is trading in a channel. The $10.50 level held as a resistance level multiple times on the chart. The $9 level was previously being held as a resistance level but has since broken and become support.

The bulls would like to see the stock continue to rise and break above the potential resistance level with some price consolidation above the level before the stock may make a higher short-term move.

Bears would like to see the stock fall through the support level and consolidate before the price makes a further downward move.

The daily chart above shows some longer-term levels for the stock. In recent weeks, the stock took a strong downturn and has since seemed like it may have found a bottom near $6.

This level was previously a level of support and more recently was able to bounce after a long downtrend.

The $10 level has been a previous resistance on the chart, and the stock is now testing to see if it will be able to hold above these levels and start a consolidation.

Bulls would like to see a close over the $10 level and have the price move sideways for a bit so the stock can catch its breath and move higher. Bears would like to see the price fall back through the resistance level and see the price move to the support level for a chance the $6 level could break and the price may see greater downward moves.

Nano Dimension shares are trading with a market cap of $480 million and a public float of 45.6 million shares.