Why Is Velo3D Stock Falling On Friday?
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Velo3D (VELO) stock fell 16% on Friday as traders took profits following a 34% surge driven by SpaceX IPO buzz and an aerospace partnership. Despite the pullback, technical indicators like the golden cross and MACD suggest the long-term uptrend remains intact. The stock trades above key moving averages, with support near $21.17 and resistance at $26.50. Analysts remain bullish, with Lake Street raising its price target to $20 ahead of the Aug 26 earnings report.
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