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.
🧩 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.
تم فتح الصفقة
Trade Active, Breakout Spotted. أغلقت الصفقة: تم الوصول للهدف
Went above and beyond!
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.