PLTR Technical Analysis and GEX Insights. Jan. 2, 20251-Hour Chart Analysis (For Trading):
* Trend: The stock is trending downward within a descending channel.
* Price Levels:
* Resistance Levels: $76.00 and $79.20.
* Support Levels: $73.50 and $70.40.
* Indicators:
* MACD: Slightly bearish crossover, indicating continued selling pressure.
* Stochastic RSI: Oversold but not yet turning upward; signals potential continuation of the downtrend or consolidation.
* Volume: Declining volume shows a lack of momentum to break out of the descending channel.
* Entry Strategy:
* Short Entry: If PLTR breaks below $73.50 with increasing volume, enter a short position targeting $70.40.
* Long Entry: Wait for a breakout above $76.00 with a large bullish candle supported by volume.
* Exit Strategy:
* Place stop-loss at $75.50 for shorts and $74.50 for longs.
Daily Chart and GEX (For Options Trading):
* Gamma Exposure (GEX):
* Call Resistance Levels: $80, $83, and $84.
* Put Support Levels: $75, $73, and $70.
* Options Oscillator:
* IVR: 68 (moderate), suggesting average implied volatility.
* Calls Dominate: 64.5%, showing positive sentiment but with strong resistance overhead.
* Insights:
* Bullish Option Play: Buy calls if PLTR breaks $80 and sustains above $81, targeting $84.
* Bearish Option Play: Buy puts if PLTR breaks below $73 with a target of $70.
Key Observations:
* The stock remains under pressure within a bearish channel.
* Both price action and GEX suggest significant resistance at $80, making this a critical level for bullish scenarios.
* Short-term trades align with a bearish strategy, while any upward momentum must clear $76 decisively.
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.
