PLTR) is trading within an ascending channel, showing promising upward momentum in recent sessions. The stock has been building higher highs and higher lows, a strong indication of a bullish structure. Let’s break it down:
Key Levels to Watch:
* Support Zones:
* Immediate support at $63.91, marked by recent consolidation.
* Major support at $58.85, aligning with previous demand zones.
* Resistance Levels:
* First resistance at $67.88, the upper range of the current channel.
* Key resistance at $69.00, which may act as a breakout point for further highs.
Order Block & Liquidity Zones:
* A notable bullish order block is sitting near the $63.91 zone, indicating significant institutional buying interest.
* Liquidity appears to be building above $67.88, suggesting a potential liquidity grab and breakout.
Price Action Insights:
* PLTR has been trading within a well-defined ascending channel, supported by increased volume on green candles, signaling strong buyer interest.
* The MACD shows a bullish crossover, adding further conviction to the upward trend.
Game Plan for Traders
Scalping Opportunities:
* Entry: Consider entering near $66.00, targeting a quick move to $67.88.
* Stop Loss: Place a tight stop loss below $65.00 to limit downside risk.
* Exit: Take profit near $67.88, aligning with the immediate resistance level.
Swing Trade Setup:
* Entry: A solid breakout above $67.88 with volume confirmation could be a strong swing trade setup.
* Stop Loss: Place a stop loss below $63.91 to account for volatility.
* Target: Aim for $72.00, the potential next resistance if the breakout sustains.
Trader Sentiment
* Retail traders appear optimistic about PLTR due to its bullish price action and consistent higher lows.
* Institutional activity is evident in the order block near $63.91, showing significant accumulation at lower levels.
Market Direction Prediction
PLTR is likely to continue its upward trend if it breaks above $67.88 with conviction. However, traders should watch for false breakouts and ensure volume confirmation. Risks include broader market volatility or unexpected news impacting the tech sector.
Thoughts & Suggestions
PLTR is shaping up for a potential breakout, but patience is key. Stick to the game plan and avoid chasing the price. Keep an eye on volume spikes and the $67.88 resistance level for the next move.
Disclaimer
This analysis is for informational purposes only and not financial advice. Always do your own research and consult with a professional before trading.
Key Levels to Watch:
* Support Zones:
* Immediate support at $63.91, marked by recent consolidation.
* Major support at $58.85, aligning with previous demand zones.
* Resistance Levels:
* First resistance at $67.88, the upper range of the current channel.
* Key resistance at $69.00, which may act as a breakout point for further highs.
Order Block & Liquidity Zones:
* A notable bullish order block is sitting near the $63.91 zone, indicating significant institutional buying interest.
* Liquidity appears to be building above $67.88, suggesting a potential liquidity grab and breakout.
Price Action Insights:
* PLTR has been trading within a well-defined ascending channel, supported by increased volume on green candles, signaling strong buyer interest.
* The MACD shows a bullish crossover, adding further conviction to the upward trend.
Game Plan for Traders
Scalping Opportunities:
* Entry: Consider entering near $66.00, targeting a quick move to $67.88.
* Stop Loss: Place a tight stop loss below $65.00 to limit downside risk.
* Exit: Take profit near $67.88, aligning with the immediate resistance level.
Swing Trade Setup:
* Entry: A solid breakout above $67.88 with volume confirmation could be a strong swing trade setup.
* Stop Loss: Place a stop loss below $63.91 to account for volatility.
* Target: Aim for $72.00, the potential next resistance if the breakout sustains.
Trader Sentiment
* Retail traders appear optimistic about PLTR due to its bullish price action and consistent higher lows.
* Institutional activity is evident in the order block near $63.91, showing significant accumulation at lower levels.
Market Direction Prediction
PLTR is likely to continue its upward trend if it breaks above $67.88 with conviction. However, traders should watch for false breakouts and ensure volume confirmation. Risks include broader market volatility or unexpected news impacting the tech sector.
Thoughts & Suggestions
PLTR is shaping up for a potential breakout, but patience is key. Stick to the game plan and avoid chasing the price. Keep an eye on volume spikes and the $67.88 resistance level for the next move.
Disclaimer
This analysis is for informational purposes only and not financial advice. Always do your own research and consult with a professional before 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.