Planet Labs PBC
Long
Updated

Planet Labs to $8.00 | Short Term Bull Case

196
Planet Labs is currently presenting a bullish continuation setup following a sharp breakout from a base near $3.50. After a 57.7% rally, price has entered a textbook bullish pennant formation, consolidating in a wedge while holding strong above the critical $5.00 support zone.

🧩 Key Technical Highlights:
Pattern Structure:
The stock has formed a bullish flag/wedge after a high-volume impulse move. The flag is narrow, downward-sloping, and supported by declining volume—typical of consolidation before continuation.
Volume Profile:
A significant volume surge confirms institutional accumulation during the initial breakout. Volume has tapered off during consolidation, validating the flag.

Support & Resistance:
Major Support: $4.98–$5.00 (prior resistance turned support)
Local Resistance: $6.44
Target: $8.00, based on the flagpole’s measured move


🎯 Bullish Thesis Summary:
PL is building strength for a secondary breakout, with price respecting the $5.00 level after a textbook bull flag formation. A close above $5.60–$6.00 with strong volume would confirm breakout continuation, targeting the $8.00 zone (57% upside). Risk is clearly defined below $4.90, making the current setup attractive for swing traders and breakout investors.
Trade active
Trade Active, Breakout Spotted.

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