PLTR Hits Fresh Highs: Momentum Play or Pullback Ahead? Dec. 4, PLTR has shown impressive strength today, breaking through key resistance levels with high volume. Here’s a trading plan to capitalize on its momentum or prepare for potential pullbacks.
1️⃣ Price Action & Chart Analysis
* Trend Overview: PLTR is in a strong uptrend, pushing above $71.50, a key resistance level.
* Key Levels:
* Resistance: $71.54 (current high), $73.00 (next target).
* Support: $69.50 (recent breakout zone), $67.86 (previous support).
PLTR is trading at an elevated level, so managing risk is crucial for new positions.
2️⃣ Liquidity Zones & Order Blocks
* Liquidity Zone: Watch for activity around $70.50–$71.50, where consolidation may occur before another move higher.
* Order Block: Significant demand zone identified near $67.50–$68.50 from recent accumulation.
3️⃣ Scalping Strategy
For quick intraday opportunities:
* Entry (Breakout): Buy above $71.60 if volume supports the move. Target $72.50–$73.00 for a quick scalp.
* Stop-Loss: Below $71 to minimize downside risk.
* Rejection Play: If $71.50 holds as resistance, consider a short trade targeting $70.
4️⃣ Swing Trade Strategy
For longer-term positions:
* Entry Option 1: Buy on a confirmed breakout above $71.50.
* Entry Option 2: Wait for a pullback to $69–$70 for a better risk-reward setup.
* Targets:
* Initial Target: $73.50
* Extended Target: $75.00
* Stop-Loss: Below $67.50 for a conservative approach.
5️⃣ Momentum & Indicators
* MACD: Positive momentum confirms bullish sentiment with no signs of reversal yet.
* Volume: Increasing volume supports the breakout, signaling strong interest from bulls.
Game Plan for Tomorrow
* Scenario 1: If PLTR sustains above $71.50, expect a continuation toward $73 or higher.
* Scenario 2: Failure to hold $71.50 could lead to consolidation or a pullback to $70.
Disclaimer:
This analysis is for educational purposes only and not financial advice. Always conduct your own research and due diligence before making any trades.
