VELO bottomed after a weekly bull div on the RSI. The RSI then formed an uptrend with higher lows from the bull div and acted as support. It then found a top around the SPCXE IPO with a bear div on the RSI. But bears could not push the price to a new low and instead VELO formed tripple bottom at around 8$ and also finding support at the weekly RSI trend again. With the 3d Printing sector turning bullish recently, VELO could target 74$ from the tripple bottom pattern (log scale fibs). This would then create an inverse head and shoulders pattern on the chart, with a higher target of $225–$745

Velo3D depends heavily on SpaceX; their printers are used to produce metal parts for the Raptor engine. If SpaceX increases Starship production, Velo can benefit as long as SpaceX continues to use Velo3D.

Insider ownership of VELO is 53%, while the short float is 40%, so a lot of the free float is short. Given the shown setups, this looks a bit too heavy to me.