Bullish with Caution
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The daily time frame trend has flipped bullish and is above all its major moving averages. On the Friday selloff price found support at the 200 day. The slope of the major moving averages are still declining or neutral.
On the weekly time frame the trend is still decidedly down. Price has remained below the 48 weekly EMA its entire history except for a brief fake out last year. If the next few weekly bars can break and hold the 48 weekly EMA a major move higher may be underway.
Momentum is bullish on the weekly and daily stochastic.
I am looking for more mean reversion after the earnings pop for an entry between the 9 and 48 daily EMA.
Fundamentally not much has changed with the business since the fake breakout last year but the stock is now 35% cheaper. I would like to see less stock-based compensation but overall PLTK has solid fundamentals. It’s currently trading at 5x FCF and 13x earnings. They hold $1 billion in cash to $2.4 billion in debt. FCF hovers around $415 million making Net debt/FCF around 3.3. Revenue growth is stagnant, but valuations are cheap enough to make money on multiple expansion. One thing to keep in mind is the Russel 2000 chart doesn’t look the best. If RTY breakdown so will this.
On the weekly time frame the trend is still decidedly down. Price has remained below the 48 weekly EMA its entire history except for a brief fake out last year. If the next few weekly bars can break and hold the 48 weekly EMA a major move higher may be underway.
Momentum is bullish on the weekly and daily stochastic.
I am looking for more mean reversion after the earnings pop for an entry between the 9 and 48 daily EMA.
Fundamentally not much has changed with the business since the fake breakout last year but the stock is now 35% cheaper. I would like to see less stock-based compensation but overall PLTK has solid fundamentals. It’s currently trading at 5x FCF and 13x earnings. They hold $1 billion in cash to $2.4 billion in debt. FCF hovers around $415 million making Net debt/FCF around 3.3. Revenue growth is stagnant, but valuations are cheap enough to make money on multiple expansion. One thing to keep in mind is the Russel 2000 chart doesn’t look the best. If RTY breakdown so will this.
Ghi chú
Thats one weekly bar above the weekly 48 EMA. Still no entry points on the daily EMAsGhi chú
Failed. I will not go long
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