Planet Labs PBCLong
Planet Labs Bottomed?
Updated
Promising company, promising tech. Looks like it already bottomed, if not in the process of bottoming.
CEO came from NASA Ames research lab, invented micro-satellites. Found much cheaper ways to produce them, put a large (if not the largest) array of them into low earth orbit and are taking daily high resolution photos of the entire planet + AI tools to analyze changes or notice similarities across the earth. Very valuable information to be gleamed from data like this.
Targets = $4.38 and then $5.51, pre-req of breaking and holding above $2.77.
Not far from ATLs now. Good entries anywhere under 2 bucks, or even where it sits now if you don't mind a litte extra risk.
CEO came from NASA Ames research lab, invented micro-satellites. Found much cheaper ways to produce them, put a large (if not the largest) array of them into low earth orbit and are taking daily high resolution photos of the entire planet + AI tools to analyze changes or notice similarities across the earth. Very valuable information to be gleamed from data like this.
Targets = $4.38 and then $5.51, pre-req of breaking and holding above $2.77.
Not far from ATLs now. Good entries anywhere under 2 bucks, or even where it sits now if you don't mind a litte extra risk.
Trade active
Daily chart also has multiple unfilled gaps at much higher price targets, and the 50/200 daily SMA have golden crossed for the first time ever. 50/200 day EMA (not shown below) are approaching a golden cross as well:
Note
Closed the day above the 2.77 neckline, potentially confirming the larger move up. We need to hold above 2.77 on any re-test. There is a daily gap around 2.66-68 that could get filled during re-test, so we may see a pullback below the neck:
Trade closed: target reached
TP 1 reached, TP 2 still in play, may see a re-test of the area halfway between the 2.77 neckline and TP 1, or even all the way down to the 2.77 neck, IF it doesn't just continue up to TP 2:
Note
A daily chart double top may be forming around TP 1, that re-test I mentioned above becomes a lot more likely if confirmed by losing the neck and failing to reclaim it, so around $3.87 on daily candle closes.
Lose it and we likely get the re-test of approx 2.75-.2.90, green box needs to hold on the weekly to go back to TP 1 and 2 from there:
Note
Update on the proposed daily double top. Today we moved down to 3.88, 1 cent above the 3.87 neckline.
A move below 3.87 w/ failure to reclaim it confirms the double top. Presently the 200 day EMA lies 2 cents within a 2x measured move down from 3.87, which would give us a re-test of the 200 EMA and get us close enough to re-test the neck of the larger move (~2.77), potentially we stop 5-10 cents short of that and have a successful bullish re-test of the weekly bottoming pattern, around 2.84, and then continue up towards TP 2.
This is where I'll be looking to buy back in, if we get the move down
Note
Daily double top may be confirmed today if it closes below 3.87
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.