Trading Plan and Technical Analysis for PLTR
Market Reminder: 📢 The U.S. stock market will close early tomorrow, Friday, November 29, 2024, at 1:00 PM EST. Plan your trades accordingly.
Price Action Overview: PLTR is trading near $66.20, with price action following an ascending trendline. It is currently testing a critical resistance level near $67.50. The MACD histogram is neutral but hints at a potential bullish crossover, while volume remains moderate.
Liquidity Zones and Order Blocks:
* Liquidity Zone (Support): $63.50-$64.00 - Buyers stepped in strongly here during prior pullbacks.
* Liquidity Zone (Resistance): $67.50-$68.00 - Key sellers' area that aligns with recent price rejection.
Key Support and Resistance Levels:
* Support Levels:
* $65.50 - Minor support, where intraday buyers could step in.
* $64.00 - Major support aligning with the ascending trendline.
* Resistance Levels:
* $67.50 - Immediate resistance; watch for price behavior here.
* $68.50 - Breakout target if bullish momentum sustains.
Scalping Gameplan:
* Bullish Setup:
* Entry: Long above $67.50, targeting $68.50 and $69.00.
* Stop-loss: Below $66.50.
* Confirmation: Look for volume spikes and MACD crossover on the 5-minute timeframe.
* Bearish Setup:
* Entry: Short below $65.50, targeting $64.00 and $63.50.
* Stop-loss: Above $66.50.
* Confirmation: Watch for a rejection at $67.50 followed by a breakdown.
Swing Trading Playbook:
* Bullish Case:
* Entry: Sustained breakout above $67.50, targeting $69.00.
* Stop-loss: Below $66.00.
* Indicators: RSI trending above 60 with MACD supporting bullish momentum.
* Bearish Case:
* Entry: Rejection at $67.50 and breakdown below $65.50, targeting $63.50.
* Stop-loss: Above $66.50.
Thoughts and Suggestions: PLTR is at a pivotal level, with its next move likely defining the short-term trend. Bulls need a breakout above $67.50 to sustain momentum, while bears are eyeing a breakdown below $65.50 to confirm a reversal. Given the early market close, scalpers should aim for quick profits, and swing traders should plan for reduced liquidity tomorrow.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research before making trading decisions.
Market Reminder: 📢 The U.S. stock market will close early tomorrow, Friday, November 29, 2024, at 1:00 PM EST. Plan your trades accordingly.
Price Action Overview: PLTR is trading near $66.20, with price action following an ascending trendline. It is currently testing a critical resistance level near $67.50. The MACD histogram is neutral but hints at a potential bullish crossover, while volume remains moderate.
Liquidity Zones and Order Blocks:
* Liquidity Zone (Support): $63.50-$64.00 - Buyers stepped in strongly here during prior pullbacks.
* Liquidity Zone (Resistance): $67.50-$68.00 - Key sellers' area that aligns with recent price rejection.
Key Support and Resistance Levels:
* Support Levels:
* $65.50 - Minor support, where intraday buyers could step in.
* $64.00 - Major support aligning with the ascending trendline.
* Resistance Levels:
* $67.50 - Immediate resistance; watch for price behavior here.
* $68.50 - Breakout target if bullish momentum sustains.
Scalping Gameplan:
* Bullish Setup:
* Entry: Long above $67.50, targeting $68.50 and $69.00.
* Stop-loss: Below $66.50.
* Confirmation: Look for volume spikes and MACD crossover on the 5-minute timeframe.
* Bearish Setup:
* Entry: Short below $65.50, targeting $64.00 and $63.50.
* Stop-loss: Above $66.50.
* Confirmation: Watch for a rejection at $67.50 followed by a breakdown.
Swing Trading Playbook:
* Bullish Case:
* Entry: Sustained breakout above $67.50, targeting $69.00.
* Stop-loss: Below $66.00.
* Indicators: RSI trending above 60 with MACD supporting bullish momentum.
* Bearish Case:
* Entry: Rejection at $67.50 and breakdown below $65.50, targeting $63.50.
* Stop-loss: Above $66.50.
Thoughts and Suggestions: PLTR is at a pivotal level, with its next move likely defining the short-term trend. Bulls need a breakout above $67.50 to sustain momentum, while bears are eyeing a breakdown below $65.50 to confirm a reversal. Given the early market close, scalpers should aim for quick profits, and swing traders should plan for reduced liquidity tomorrow.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research before making trading decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.