Planet Labs PBC Stock Forecast
Planet Labs PBC stock price ended at $2.03 on Thursday, after losing 2.40%.
(Updated on May 16, 2024)
The Planet Labs PBC stock price fell by -2.40% on the last day (Thursday, 16th May 2024) from $2.08 to $2.03. During the last trading day the stock fluctuated 3.96% from a day low at $2.02 to a day high of $2.10. The price has risen in 7 of the last 10 days and is up by 11.54% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -453 thousand shares and in total, 731 thousand shares were bought and sold for approximately $1.48 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -16.75% during the next 3 months and, with a 90% probability hold a price between $1.33 and $1.91 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PL Signals & Forecast
The Planet Labs PBC stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $2.03. On a fall, the stock will find some support from the long-term average at approximately $1.95. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -2.87%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Planet Labs PBC stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.81 and $1.76. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Planet Labs PBC finds support just below today's level at $1.81. If this is broken, then the next support from accumulated volume will be at $1.76 and $1.75.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0800 between high and low, or 3.96%. For the last week the stock has had daily average volatility of 4.91%.
Our recommended stop-loss: $1.94 (-4.56%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (PL) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Planet Labs PBC to open at $2.05, and during the day (based on 14 day Average True Range), to move between $1.92 and $2.14, which gives a possible trading interval of +/-$0.106 (+/-5.23%) up or down from last closing price. If Planet Labs PBC takes out the full calculated possible swing range there will be an estimated 10.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.16 (6.40%) than the support at $1.81 (10.84%), 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?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.569 Buy Candidate Unchanged
Predicted Opening Price for Planet Labs PBC of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $2.05 ( 0.99%) | $2.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.13 | 4.93 % | |
| R2 | 2.10 | 3.42 % | ||
| R1 | 2.08 | 2.49 % | ||
| Current price: | 2.03 | |||
| Support | S1 | 2.02 | -0.520 % | |
| S2 | 2.00 | -1.45 % | ||
| S3 | 1.97 | -2.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.25 | 10.84 % | |
| R2 | 2.17 | 6.90 % | ||
| R1 | 2.16 | 6.40 % | ||
| Current price | 2.03 | |||
| Support | S1 | 1.81 | -10.84% | |
| S2 | 1.76 | -13.30% | ||
| S3 | 1.75 | -13.79% |
PL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 03, 2014 | Nov 14, 2014 | Dec 01, 2014 | $0.240 | 0% |
| 2 | Aug 04, 2014 | Aug 14, 2014 | Sep 02, 2014 | $0.240 | 0% |
| 3 | May 12, 2014 | May 21, 2014 | Jun 09, 2014 | $0.240 | 0% |
| 4 | Feb 10, 2014 | Feb 21, 2014 | Mar 10, 2014 | $0.200 | 0% |
| 5 | Oct 30, 2013 | Nov 12, 2013 | Dec 02, 2013 | $0.200 | 0% |
FAQ
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