It hit the 20ma as we expected. Now what?
Yes, PLTR is sitting at the 20ma as we expected it would in our last analysis, and tomorrow we'll see if it'll fly again, or keep the correction!
The bias is clearly bullish, and I think this movement is not done yet! Yes, it hit the 22 today, the target we've been aiming, but if you look at the 4h chart, there's still some upside left!
The problem: The 22 is the 61.8% fibs retracement, and was a nice support level in the past, so, in theory, it shouldn't be easy to break it.
But given the bull trend in the 30min, it is possible to see a breakout here, and in this case, the next stop is the 24 area. The RSI is not overbought at all, and it could go higher before a correction in the 4h chart.
So far, we doing amazingly well here. I'll keep you guys updated every day :)
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
The bias is clearly bullish, and I think this movement is not done yet! Yes, it hit the 22 today, the target we've been aiming, but if you look at the 4h chart, there's still some upside left!
The problem: The 22 is the 61.8% fibs retracement, and was a nice support level in the past, so, in theory, it shouldn't be easy to break it.
But given the bull trend in the 30min, it is possible to see a breakout here, and in this case, the next stop is the 24 area. The RSI is not overbought at all, and it could go higher before a correction in the 4h chart.
So far, we doing amazingly well here. I'll keep you guys updated every day :)
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
Related publications
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.