GRANITESHARES PLATINUM TRUST (PLTM) Stock Technical Analysis
USA - NYSEARCA:PLTM - US38748T1034 - ETF
15.46 USD
-1.02 (-6.19%)
15.5 USD
+0.04 (+0.26%)
We assign a technical rating of 10 out of 10 to PLTM. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, PLTM is showing a nice and steady performance.
The long and short term trends are both positive. This is looking good!
When comparing the yearly performance of all stocks, we notice that PLTM is one of the better performing stocks in the market, outperforming 89% of all stocks.
PLTM is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so PLTM is lagging the market slightly.
In the last month PLTM has a been trading in the 13.50 - 16.68 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Volume is considerably higher in the last couple of days.
Although PLTM has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
8.86
16.64
When analyzing the support we can see 4 important areas.
- A support zone ranging from 15.33 to 15.42. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 14.04 to 14.06. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @13.59 from a trend line in the daily time frame.
- A support zone ranging from 8.95 to 9.05. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- Resistance @16.48 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for PLTM is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PLTM is up. |
| ChartMill Relative Strength | 89.07 | POSITIVE | PLTM has a high relative strength, it outperformed 89.07% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of PLTM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of PLTM is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of PLTM is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 55.45 | NEUTRAL | The RSI value for PLTM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests PLTM has a negative trend. |
| Stochastics (14,3) | 70.57 | NEUTRAL | The Stochastics value for PLTM is a neutral value. |
| Average True Range in percent/ATR (20) | 3.21 | MEDIUM VOLATILITY | The ATR as a percentage value for PLTM suggests some volalility. |
| Average Directional Index/ADX (14) | 23.84 | NEUTRAL | The ADX value for PLTM suggests a possible start of a new trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 15.82 | 15.32 | 0.50 (3.14%) | 25.00% |
| An entry @15.82. This is a Buy Stop order right above the 10 day moving average. | An exit @15.32. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.50 points, which is 3.14%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.79%. |
- The distance between exit and entry is rather small compared to the average daily movement of PLTM. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
15.46
-1.02 (-6.19%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-6.19%
1 Week0.19%
2 Weeks-0.06%
1 Month13.76%
3 Month12.44%
6 Month65.08%
12 Month57.27%
2 Year69.89%
3 Year70.46%
5 Year84.93%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.53
ATR(20)%3.21%
ATR Inc90.83%
Range Today0.38
ADR(20)0.35
ADR(20)%2.25%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS89.07
Mansfield2.87
10 Day High16.68
10 Day Low15.33
20 Day High16.68
20 Day Low13.5
52 Week High16.68
52 Week Low8.72
CS1 End15.42
CR1 Start16.48
Volume & EV
DER(3)1.27%
DER(5)3.88%
Volume1.22M
Volume Incr43.89%
Vol(5)855.70K
Vol(50)492.33K