PLTR: Trying to reverse the trend!
Hello traders and investors! Let’s see how PLTR is doing today!
We have a solid bull trend in the 1h chart, as we have higher highs/lows, and a trendline connecting the previous bottoms. What’s more, PLTR defeated every single of its resistances, showing some strength. This is good, and it reinforces our bullish thesis, since our last analysis, last week (link to it below).
Pullbacks to its support levels, like the trendline, 21 ema, or any of the black lines would be just opportunities to buy. This bull trend is spreading to the daily chart as well:
There are two good things here. First, it defeated the $ 21.60, which was a pivot point. Second, it is trading above the 21 ema again. Yes, PLTR had similar patterns in the past, and it failed, so, why would this time be different?
Because PLTR did a false breakout from the $ 20.18, and the volume increased a lot over there. This means that there are people aggressively buying PLTR near support levels, and the more it drops the better. It is almost reversing the trend for good in the daily chart, it seems we just need more conviction.
Now, the volume is normal, which is fine, but it feels that it needs to increase a little bit more. Either way, we do have some bullish signs around, and several resistances that could work as targets for us. Also, we have an open gap around $ 31.34, which might work as a magnet in the next few weeks.
Let’s follow PLTR closely, and if you liked this analysis, remember to support it! And follow me to keep in touch with my daily updates.
Thank you very much.
We have a solid bull trend in the 1h chart, as we have higher highs/lows, and a trendline connecting the previous bottoms. What’s more, PLTR defeated every single of its resistances, showing some strength. This is good, and it reinforces our bullish thesis, since our last analysis, last week (link to it below).
Pullbacks to its support levels, like the trendline, 21 ema, or any of the black lines would be just opportunities to buy. This bull trend is spreading to the daily chart as well:
There are two good things here. First, it defeated the $ 21.60, which was a pivot point. Second, it is trading above the 21 ema again. Yes, PLTR had similar patterns in the past, and it failed, so, why would this time be different?
Because PLTR did a false breakout from the $ 20.18, and the volume increased a lot over there. This means that there are people aggressively buying PLTR near support levels, and the more it drops the better. It is almost reversing the trend for good in the daily chart, it seems we just need more conviction.
Now, the volume is normal, which is fine, but it feels that it needs to increase a little bit more. Either way, we do have some bullish signs around, and several resistances that could work as targets for us. Also, we have an open gap around $ 31.34, which might work as a magnet in the next few weeks.
Let’s follow PLTR closely, and if you liked this analysis, remember to support it! And follow me to keep in touch with my daily updates.
Thank you very much.
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