PLTR: What's the target for us here?
Hello traders and investors! Let’s see how PLTR is doing today!
First, in the 1h chart, we have a slow movement, but definitely bullish, as we have higher highs/low, the 21 ema is pointing up, and we can draw a trendline that is working as a support for us.
We can also draw another trendline connecting some of its tops, creating a channel. If PLTR defeats the black line at $ 24.84, it seems the $ 26.20 is the next target, a dual-resistance level, as it meets the upper trendline and the next top.
Now, let’s see the daily chart for a better perspective:
I’m not sure if we can call this a V-shape recovery, as the second leg was too different from the first one. Regardless of the pattern, the $ 24.26 was the first resistance on PLTR.
If it drops again, it might retest the 21 ema, or even the black line at $ 21.20 and the trend will remain bullish. In fact, if it drops to the $ 21.20 again, and if it does a good pattern around there, we might see an IH&S in the daily chart, one of the most powerful reversal patterns in technical analysis.
We shouldn’t be worried here, as PLTR is a great company. Personally, I bought PLTR in the last pullback we had, and I bought it around the $ 20s (and my group bought it as well). If it drops, let’s not panic, as pullbacks are just opportunities to buy.
The gap at $ 31.54 is a good target to aim, in the mid-term. If you liked this analysis, remember to follow me to keep in touch with my free analysis, and support this idea if it helped you!
Thank you very much!
First, in the 1h chart, we have a slow movement, but definitely bullish, as we have higher highs/low, the 21 ema is pointing up, and we can draw a trendline that is working as a support for us.
We can also draw another trendline connecting some of its tops, creating a channel. If PLTR defeats the black line at $ 24.84, it seems the $ 26.20 is the next target, a dual-resistance level, as it meets the upper trendline and the next top.
Now, let’s see the daily chart for a better perspective:
I’m not sure if we can call this a V-shape recovery, as the second leg was too different from the first one. Regardless of the pattern, the $ 24.26 was the first resistance on PLTR.
If it drops again, it might retest the 21 ema, or even the black line at $ 21.20 and the trend will remain bullish. In fact, if it drops to the $ 21.20 again, and if it does a good pattern around there, we might see an IH&S in the daily chart, one of the most powerful reversal patterns in technical analysis.
We shouldn’t be worried here, as PLTR is a great company. Personally, I bought PLTR in the last pullback we had, and I bought it around the $ 20s (and my group bought it as well). If it drops, let’s not panic, as pullbacks are just opportunities to buy.
The gap at $ 31.54 is a good target to aim, in the mid-term. If you liked this analysis, remember to follow me to keep in touch with my free analysis, and support this idea if it helped you!
Thank you very much!
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