PLTR long trade idea

24 de mar. de 2021

PLTR is coming back down to the bottom of the recent trading range. $23 is a solid support and it is objective to go long here with stop should be placed below the trading range according to your upside target. On hourly chart, bullish falling wedge and oversold on RSI. Just swinging back to the top of the range is well into double digit potential gain. As we all know, trading range do not last forever, eventually it is going to move one way or the other. My strategy is to take a partial position here and if it breaks up, I will add onto my position. Another way I can see myself adding is when it slightly undercut the bottom of the range to shake off weak handed longs and shorts pile in and if it reverses, then it will be a bear trap. That can be the catalyst for next leg up.

Have a good trade everyone,

T.