Updated
PLTR 6/25/2024
Here are a few observations and potential scenarios for its price movement tomorrow based on 4 hrs:
Support Levels: The chart shows a significant support level around $22.85, where the price has recently found some stability. If this support holds, it could prevent further decline and might even lead to a rebound.
Resistance Levels: There is notable resistance around $24.22. If the price moves upwards, this level will likely act as a barrier. Breaking through this resistance would be a positive sign and could indicate a move higher.
MACD Indicator: The MACD (Moving Average Convergence Divergence) at the bottom of the chart shows that the MACD line is below the signal line but appears to be converging. This could suggest a potential reversal if the MACD line crosses above the signal line.
Volume Profile: The volume profile indicates higher trading volumes at specific price levels, particularly around $24.22. This implies significant interest and activity at this level, which can act as a strong resistance.
Trend Lines: The upward trend line shows that PLTR is currently in a short-term downtrend, but it has been maintaining an overall upward trajectory over the longer term.
Scenarios:
Bullish Scenario:
If PLTR maintains its support at $22.85 and the MACD crossover occurs, we might see a rebound towards the resistance at $24.22. Breaking and holding above this level could target higher prices around $26.55 or more.
Bearish Scenario:
If the support at $22.85 fails to hold, PLTR could see a further decline towards the next support levels at $22.13 and $21.50. Continued bearish momentum could target the $20.59 level.
Conclusion:
Given the current technical indicators, PLTR's price movement tomorrow will heavily depend on how it interacts with the $22.85 support and $24.22 resistance levels. Watching for a MACD crossover and volume changes will be crucial in determining the next direction.
For a more precise prediction, it is essential to consider broader market conditions and any news or events specific to Palantir Technologies.
Support Levels: The chart shows a significant support level around $22.85, where the price has recently found some stability. If this support holds, it could prevent further decline and might even lead to a rebound.
Resistance Levels: There is notable resistance around $24.22. If the price moves upwards, this level will likely act as a barrier. Breaking through this resistance would be a positive sign and could indicate a move higher.
MACD Indicator: The MACD (Moving Average Convergence Divergence) at the bottom of the chart shows that the MACD line is below the signal line but appears to be converging. This could suggest a potential reversal if the MACD line crosses above the signal line.
Volume Profile: The volume profile indicates higher trading volumes at specific price levels, particularly around $24.22. This implies significant interest and activity at this level, which can act as a strong resistance.
Trend Lines: The upward trend line shows that PLTR is currently in a short-term downtrend, but it has been maintaining an overall upward trajectory over the longer term.
Scenarios:
Bullish Scenario:
If PLTR maintains its support at $22.85 and the MACD crossover occurs, we might see a rebound towards the resistance at $24.22. Breaking and holding above this level could target higher prices around $26.55 or more.
Bearish Scenario:
If the support at $22.85 fails to hold, PLTR could see a further decline towards the next support levels at $22.13 and $21.50. Continued bearish momentum could target the $20.59 level.
Conclusion:
Given the current technical indicators, PLTR's price movement tomorrow will heavily depend on how it interacts with the $22.85 support and $24.22 resistance levels. Watching for a MACD crossover and volume changes will be crucial in determining the next direction.
For a more precise prediction, it is essential to consider broader market conditions and any news or events specific to Palantir Technologies.
Note
We hit target 26.60 today July 3.
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.