Nano Dimension LTD. (NASDAQ:NNDM) shares were trading higher Wednesday after the company reported third-quarter earnings per share and sales results that were higher year-over-year.

Earnings per share jumped from a loss of 45 cents to a loss of 7 cents per share. Sales were from $438,000 to $1.34 million.

Nano Dimension was up 10.61% at $5.11 ahead of the close. 

Nano Dimension Daily Chart Analysis

• The stock looks to have recently bounced off support in what technical traders call a falling wedge pattern.

• The price has been slowly falling and condensed between narrowing highs and lows and is now nearing the end of the pattern. If the stock is able to break above resistance or breaks below support, it may see a further push in the same direction.

• The stock trades below both the 50-day moving average (green) and the 200-day moving average (blue), indicating the stock has seen recent bearish sentiment.

• Each of these moving averages may hold as an area of resistance in the future.

• The Relative Strength Index (RSI) saw a jump higher Wednesday and now sits at 43. This shows the stock saw an increase in the amount of buyers after reporting earnings, but still has more sellers overall.

What’s Next For Nano Dimension?

Bullish traders are looking to see the stock continue to push higher and begin to form higher lows. Bulls want to see higher lows push up past the moving averages, and then go on to break above resistance as well. A break above resistance could signal that a long-term trend change is coming.

Bearish traders are looking to see the stock continue to trade within the pattern for a time and then eventually go on to break below pattern support. If the stock can fall below pattern support and hold below it, then it may be able to see a further strong bearish push in time.