PLTR: Trading near its bottom!
Hello traders and investors! Let’s see how PLTR is doing today!
As we thought in our last analysis, since PLTR lacked stronger bearish structures, it stopped at the gap area, which is working amazingly well as a support level. Now the bias is not bearish anymore, as the 21 ema got flat, and it seems PLTR wants to reverse.
The $ 23.97 is a pivot point, and by breaking it, it’ll trigger the next movement to the $ 24.94, the next resistance. Now, let’s see the daily chart for more clues.
Here we can see better, how the Gap worked as a support for us and the $ 23.19 is now the floor for PLTR. Since PLTR dropped too fast since the $ 29 area, it won’t be easy to reverse and resume the bullish bias, but the bullish reaction seen just above this support level is a good start.
The only thing missing here is a good volume, and the price is still under the 21 ema, so let’s be careful.
If you liked this analysis, remember to follow me to keep in touch with my daily updates. Support the post if it helped you!
Have a good day!
As we thought in our last analysis, since PLTR lacked stronger bearish structures, it stopped at the gap area, which is working amazingly well as a support level. Now the bias is not bearish anymore, as the 21 ema got flat, and it seems PLTR wants to reverse.
The $ 23.97 is a pivot point, and by breaking it, it’ll trigger the next movement to the $ 24.94, the next resistance. Now, let’s see the daily chart for more clues.
Here we can see better, how the Gap worked as a support for us and the $ 23.19 is now the floor for PLTR. Since PLTR dropped too fast since the $ 29 area, it won’t be easy to reverse and resume the bullish bias, but the bullish reaction seen just above this support level is a good start.
The only thing missing here is a good volume, and the price is still under the 21 ema, so let’s be careful.
If you liked this analysis, remember to follow me to keep in touch with my daily updates. Support the post if it helped you!
Have a good day!
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