Planet Labs Pbc Stock Forecast
Planet Labs Pbc stock price up more than 12.91% on Tuesday
(Updated on Jun 25, 2024)
The Planet Labs Pbc stock price gained 12.91% on the last trading day (Tuesday, 25th Jun 2024), rising from $0.130 to $0.147. During the last trading day the stock fluctuated 6.99% from a day low at $0.137 to a day high of $0.147. The price has fallen in 5 of the last 10 days but is still up by 13% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 2 thousand shares were bought and sold for approximately $300.85 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $0.148 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Planet Labs Pbc stock with a 90% probability to be traded between $0.124 and $0.147 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PL-WT Signals & Forecast
The Planet Labs Pbc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.140 and $0.137. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 12.91%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Tuesday, June 11, 2024 with a target of $0.143. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Planet Labs Pbc stock
Planet Labs Pbc finds support from accumulated volume at $0.140 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0096 between high and low, or 6.99%. For the last week the stock has had daily average volatility of 7.12%
Our recommended stop-loss: $0.142 (-3.42%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (PL-WT) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Planet Labs Pbc to open at $0.144, and during the day (based on 14 day Average True Range), to move between $0.134 and $0.160, which gives a possible trading interval of +/-$0.0132 (+/-8.99%) up or down from last closing price. If Planet Labs Pbc takes out the full calculated possible swing range there will be an estimated 17.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.148 (1.02%) than the support at $0.140 (4.56%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Planet Labs Pbc stock A Buy?
Planet Labs Pbc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Planet Labs Pbc of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.144 ( 2.18%) | $0.147 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PL-WT
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.153 | 4.36% |
| R2 | 0.150 | 1.86% |
| R1 | 0.147 | 0.318% |
| Price | 0.147 | |
| S1 | 0.140 | -4.67% |
| S2 | 0.138 | -6.22% |
| S3 | 0.134 | -8.71% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.148 | 1.02% |
| Price | 0.147 | |
| S1 | 0.140 | -4.56% |
| S2 | 0.140 | -4.97% |
| S3 | 0.132 | -10.14% |
FAQ
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