Sigma Labs, Inc. (OTCMKTS:SGLB) Bounces Back Up
After a retrace that brought Sigma Labs, Inc. (OTCMKTS:SGLB) down from its Friday 52-week high of nearly $0.26, the stock gradually put brakes on the slide, then shifted back in higher gear in yesterday’s session. SGLB climbed over 9% to a close of $0.239, putting on two cents on over 7.5 million shares traded.
The bounce was more or less expected, as Sigma had been charting a pattern very similar to its previous one. The ticker hit a series of consecutive yearly highs and both times it slid lower before recovering. The movement is taking place on good share volumes both on green and red days. Longs are cheering that the ticker managed to put reins on the slip and rebound.
Excitement around SGLB is still high, even though the company had not posted any press releases for almost three weeks now. Traders are keeping their eyes on SGLB because today America Makes – the National Additive Manufacturing Innovation Institute, is expected to announce another grant for a research project worth $9 million. SGLB previously appeared on an award-winning team of researchers for another federal grant, so hopes are they will get even bigger grant money tomorrow.
Perhaps the most important takeaway from the recent chart movement of SGLB is that the ticker seems to enjoy a very high level of investor support and its followers truly believe in what the company is doing. SGLB is working towards becoming an authority in 3D printing quality assurance with its PrintRite in-process QA system. Even though there has been an air of skepticism around 3D printing stocks, SGLB is so far successful in pushing on. 2014 will probably be the make-or-break year for the company as it’s the new, company-set deadline for commercialization of their products and also the year when the majority of SGLB supporters expect a big company to pick up Sigma’s products and send the ticker through the roof. Whether this will happen remains to be seen.
Another additive printing OTC company was far less fortunate than SGLB. Yesterday Makism 3D Corp. (OTCBB:MDDD) crashed another 40% after feigning recovery on Wednesday. The pump that targeted the ticker has so far managed to squash it 60% down from its pre-pump levels.
