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PLTR

PLTR: Targets to work with for the short/mid-term!Hello traders and investors! Let’s see how PLTR is doing today! In our last study, PLTR was looking great, but the Gift pattern didn’t work this time, and now it is just heading to the next support levels. Now, we have a short-term bear trend in the 1h chart, and no reaction sign ahead. The only way PLTR could reverse this bearish sentiment would be if it does a bullish structure, like a bullish chart pattern, or triggers a pivot point. The $ 22.06 is a nice support level, and if PLTR closes above it tomorrow, the market may see a false breakout form a support level, but it seems this is not going to happen, and PLTR will seek the next support at $ 21.07. Now, let’s see if the daily chart offers more clues: The interesting thing here is that PLTR is dropping in the past few days, but the volume has been decreasing too. This shows exhaustion form the bears, and any bullish reaction will be more than enough to reverse this trend. The $ 24.45 is a resistance to be defeated in order for it to seek the gap at $ 31.34. In the worst-case scenario PLTR will seek the support at the red line again. Remember to follow me to keep updated about my daily studies, and if you liked this idea, please, support it! Thank you very much!
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by Nathan_The_Finance_Hydra
7
PLTR: Teaching Technical Analysis to us!Hello traders and investors! Let’s see how PLTR is doing today! First, as we discussed in our last study, PLTR found a support level at $ 22.84, it reacted very well, a nd it broke the green line at $ 24.45 . This is a great sign, and likely PLTR will seek higher levels now. To check our last study, the link to it is below this analysis. Yesterday’s movement was important because PLTR is now free from the previous congestion , and what’s more, it seems the $ 24.45 is going to work as a support next, following the Principle of Polarity . Now, let’s see the daily chart: In the daily chart, we see a nice Ignition Bar yesterday, breaking the 21 ema along with the $ 24.45, and a nice increase of the volume . All of this, in addition to the bullish signs seen in the 1h chart, tells me that PLTR is going to fill the gap (yellow area) at $ 31.34. The only problem is if it is worth an entry point, and if the R/R ratio makes sense. It seems we have a Gift pattern today, which is just a correction seen in smaller time frames, translating into a small black candlestick in the daily chart. This could offer an opportunity, indeed, but there’s a right way and a wrong way of trading Gifts, and we must wait until the end of the day for more definition. If this analysis helped you, remember to like it! And I invite you to follow me to keep in touch with my daily updates. Thank you very much!
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by Nathan_The_Finance_Hydra
15