PLTR Poised for a Breakout: Scalping & Swing Trade for Nov. 25
PLTR is currently trading within a key range, showing signs of strength after reclaiming a significant support level. With bullish momentum building, PLTR offers an attractive opportunity for both scalping and swing trades. Let’s dive into the technical details and create a game plan.
Market Structure:
1. Trend Analysis: PLTR is forming higher lows and has broken out of a consolidation phase, hinting at further upside potential.
2. EMA Signals: The 9 EMA has crossed above the 21 EMA on the hourly chart, indicating bullish short-term momentum.
3. Volume: Steady volume increases during upward moves signal active buyers entering the market.
Key Levels:
* Resistance: $64.50, $67.44.
* Support: $63.00, $60.83, $58.84.
Liquidity Zones:
* Demand Zone (Support): $63.00–$63.50. This level is acting as a base for current price action, where buyers have shown strength.
* Supply Zone (Resistance): $64.50–$65.00. Sellers have previously stepped in here, creating a potential challenge for further upward movement.
Price Action Insights:
1. PLTR is trading in an ascending wedge pattern, often a bullish continuation setup.
2. Recent price action shows clear rejection from $63.00, confirming it as a strong support level.
3. A break above $64.50 could trigger momentum toward the next resistance at $67.44.
Order Blocks:
* Bullish Order Block: $63.00–$63.50, where institutional buying activity is likely.
* Bearish Order Block: $64.50–$65.00, where sellers are defending price aggressively.
Entry & Exit Suggestions:
For Scalping:
* Entry: Look for a bounce near $63.50 if the price shows bullish rejection wicks.
* Target: $64.50 (partial profit), $65.00 (final target).
* Stop-Loss: Below $63.00 to manage risk.
For Swing Trade:
* Bullish Scenario:
* Entry: Above $64.50 on a confirmed breakout with volume support.
* Target: $67.44, followed by $70 for extended upside.
* Stop-Loss: Below $63.00 to protect against downside risk.
* Bearish Scenario:
* Entry: Below $63.00 if price fails to hold support and shows strong bearish momentum.
* Target: $60.83, followed by $58.84 for further downside.
* Stop-Loss: Above $63.50.
Thoughts & Projections:
* Bullish Outlook: If PLTR clears $64.50 with strong volume, it is likely to continue its upward momentum toward $67.44 and potentially higher.
* Bearish Outlook: A breakdown below $63.00 could bring PLTR back to its prior support zones near $60.83.
Playbook & Game Plan:
1. Pre-Market Prep:
* Mark $63.00 and $64.50 on your chart.
* Observe pre-market volume to gauge momentum near these levels.
2. Scalping Checklist:
* Focus on quick trades within the $63.50–$64.50 range.
* Use the 9 EMA to confirm the short-term trend.
* Take partial profits quickly to lock in gains.
3. Swing Checklist:
* Wait for breakout confirmation or breakdown validation.
* Use volume analysis to confirm the strength of the move.
* Maintain disciplined stop-losses to manage risk effectively.
Conclusion:
PLTR is building momentum within a strong technical setup. A breakout above $64.50 could spark a sharp move higher, while a breakdown below $63.00 would shift focus to lower levels. Scalpers and swing traders alike can capitalize on these opportunities with disciplined execution and risk management.
Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Always perform your own research and use proper risk management techniques when trading.
Market Structure:
1. Trend Analysis: PLTR is forming higher lows and has broken out of a consolidation phase, hinting at further upside potential.
2. EMA Signals: The 9 EMA has crossed above the 21 EMA on the hourly chart, indicating bullish short-term momentum.
3. Volume: Steady volume increases during upward moves signal active buyers entering the market.
Key Levels:
* Resistance: $64.50, $67.44.
* Support: $63.00, $60.83, $58.84.
Liquidity Zones:
* Demand Zone (Support): $63.00–$63.50. This level is acting as a base for current price action, where buyers have shown strength.
* Supply Zone (Resistance): $64.50–$65.00. Sellers have previously stepped in here, creating a potential challenge for further upward movement.
Price Action Insights:
1. PLTR is trading in an ascending wedge pattern, often a bullish continuation setup.
2. Recent price action shows clear rejection from $63.00, confirming it as a strong support level.
3. A break above $64.50 could trigger momentum toward the next resistance at $67.44.
Order Blocks:
* Bullish Order Block: $63.00–$63.50, where institutional buying activity is likely.
* Bearish Order Block: $64.50–$65.00, where sellers are defending price aggressively.
Entry & Exit Suggestions:
For Scalping:
* Entry: Look for a bounce near $63.50 if the price shows bullish rejection wicks.
* Target: $64.50 (partial profit), $65.00 (final target).
* Stop-Loss: Below $63.00 to manage risk.
For Swing Trade:
* Bullish Scenario:
* Entry: Above $64.50 on a confirmed breakout with volume support.
* Target: $67.44, followed by $70 for extended upside.
* Stop-Loss: Below $63.00 to protect against downside risk.
* Bearish Scenario:
* Entry: Below $63.00 if price fails to hold support and shows strong bearish momentum.
* Target: $60.83, followed by $58.84 for further downside.
* Stop-Loss: Above $63.50.
Thoughts & Projections:
* Bullish Outlook: If PLTR clears $64.50 with strong volume, it is likely to continue its upward momentum toward $67.44 and potentially higher.
* Bearish Outlook: A breakdown below $63.00 could bring PLTR back to its prior support zones near $60.83.
Playbook & Game Plan:
1. Pre-Market Prep:
* Mark $63.00 and $64.50 on your chart.
* Observe pre-market volume to gauge momentum near these levels.
2. Scalping Checklist:
* Focus on quick trades within the $63.50–$64.50 range.
* Use the 9 EMA to confirm the short-term trend.
* Take partial profits quickly to lock in gains.
3. Swing Checklist:
* Wait for breakout confirmation or breakdown validation.
* Use volume analysis to confirm the strength of the move.
* Maintain disciplined stop-losses to manage risk effectively.
Conclusion:
PLTR is building momentum within a strong technical setup. A breakout above $64.50 could spark a sharp move higher, while a breakdown below $63.00 would shift focus to lower levels. Scalpers and swing traders alike can capitalize on these opportunities with disciplined execution and risk management.
Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Always perform your own research and use proper risk management techniques when trading.
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.