GRANITESHARES PLATINUM TRUST (PLTM) Stock Technical Analysis
NYSEARCA:PLTM - NYSE Arca - US38748T1034 - ETF - Currency: USD
We assign a technical rating of 6 out of 10 to PLTM. In the last year, PLTM was one of the better performers, but we do observe some doubts in the very recent evolution.
In the last month PLTM has a been trading in the 12.41 - 14.14 range, which is quite wide. It is currently trading near the lows of this range.
PLTM is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so PLTM is performing more or less in line with the market.
The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.
Looking at the yearly performance, PLTM did better than 89% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
Volume is considerably higher in the last couple of days.
PLTM has an average technical rating and it also does not offer a high quality setup 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
8.63
14.26
When analyzing the support we can see 3 important areas.
- A support zone ranging from 12.42 to 12.46. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 8.95 to 9.07. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @8.72 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- Resistance @14.12 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 | DOWN | NEGATIVE | The short term trend for PLTM is down. |
| ChartMill Relative Strength | 89.69 | POSITIVE | PLTM has a high relative strength, it outperformed 89.69% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of PLTM is below a declining 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) | 45.46 | NEUTRAL | The RSI value for PLTM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.21 | NEGATIVE | The MACD value suggests PLTM has a negative trend. |
| Stochastics (14,3) | 10.4 | OVERSOLD | The low Stochastics value suggests PLTM may be oversold. |
| Average True Range in percent/ATR (20) | 2.76 | MEDIUM VOLATILITY | The ATR as a percentage value for PLTM suggests some volalility. |
| Average Directional Index/ADX (14) | 36.1 | POSITIVE | The high ADX value value for PLTM suggests a strong 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)
12.71
+0.24 (+1.92%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg1.92%
1 Week-5.92%
2 Weeks-7.56%
1 Month-4.08%
3 Month36.23%
6 Month33.93%
12 Month36.96%
2 Year34.57%
3 Year52.95%
5 Year38.15%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.37
ATR(20)%2.76%
ATR Inc-38.4%
Range Today0.29
ADR(20)0.3
ADR(20)%2.37%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS89.69
Mansfield1.97
10 Day High14.09
10 Day Low12.41
20 Day High14.14
20 Day Low12.41
52 Week High14.14
52 Week Low8.72
CS1 End12.46
CR1 Start14.12
Volume & EV
DER(3)0.98%
DER(5)2.89%
Volume382.40K
Volume Incr97.34%
Vol(5)933.54K
Vol(50)536.38K