PLTR at Major Resistance! Breakout or Pullback Ahead? Mar17Quick look at PLTR’s current setup on the 4-hour chart.
📈 Technical Analysis (TA):
* PLTR is testing critical resistance within a descending channel around $86-$90; important decision point here.
* Recent Change of Character (CHoCh) hints bullish momentum might be picking up.
* Watch carefully the $90.94 level for breakout confirmation.
* Strong support clearly established at recent BOS level around $71.81–$78.45. Crucial floor if price retraces.
* Significant overhead resistance near $125 if a strong breakout occurs.
📊 GEX & Options Insights:
* Strong positive NET GEX and CALL resistance at $100; key gamma level to watch for potential moves.
* Robust PUT support clearly marked at $70; strong floor for downside protection.
* IV Rank extremely high at 74.2%; premiums rich and ideal for selling options or using defined-risk spreads.
* CALL ratio at 44.3%, suggesting mixed sentiment, slightly leaning bearish.
💡 Trade Recommendations:
* Bullish Play: Confirm breakout above $90.94 before entering calls, targeting up toward $100 gamma wall initially. Keep stops just under $85.
* Bearish Play: Watch for a strong rejection at current resistance levels; consider puts back toward $78 and potentially lower.
* Neutral setups: High IV makes Iron Condors or premium collection strategies attractive between clear levels ($70–$100).
🛑 Risk Management: With elevated volatility, tight stop-losses and careful position sizing are essential.
Stay sharp, traders!
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
