PL Plunges 62.5% into Deep Base, Stage 4 Downtrend Persists

Posted on by Eben@CANSLIM Research
PL daily stock chart with 10, 20, 50, 150 and 200-day moving averages, volume and RS line versus SPY, Stage 4 (Declining), as of September 02, 2026 at 01:13 — CANSLIM Research

Planet Labs (PL) remains entrenched in a Stage 4 downtrend, trading at $19.28, well below its declining 30-week moving average. The stock has carved out a 13-week deep base with a 62.5% correction, a pattern historically associated with elevated failure rates and no confirmed breakout. With the technical score at -6 and bearish sentiment, the setup offers no actionable long entry and warrants a defensive stance.

As of 2026-09-01 · Close $19.28

Stage 4 (Declining) — Price below a declining 30-week MA — downtrend (30-week MA 6-week slope: -1.71%)

⚠️ Faulty cup warning: the base is 62.5% deep (above the 38–40% threshold). A correction this deep leaves heavy overhead supply — trapped holders from higher prices are likely to sell into any rally, raising the failure rate of a breakout from this base.

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