Hello, traders.
This is an analysis of Palantir (PLTR) on the 15-minute timeframe, highlighting a potential long trading opportunity.
Analysis:
The chart shows a key horizontal level at approximately $177.56. This price level previously acted as strong resistance in mid-September, rejecting upward price movement.
Recently, the price has successfully broken through and established itself above this former resistance. The current price action appears to be a retest of this level, which now has the potential to act as new support. This "resistance-turned-support" is a classic technical pattern that can signal a continuation of the bullish trend.
Trade Plan:
Entry: An entry is considered around the current support level of $177.56.
Stop Loss: To manage risk, a stop loss is placed at $169.67, below the recent swing low. A drop to this level would likely invalidate the bullish thesis.
Take Profit: The target for this long position is set at $198.07, aiming for a higher area of potential resistance.
This setup presents a favorable risk-to-reward ratio based on the levels identified on the chart.
Disclaimer: This is for educational purposes only and reflects a personal market analysis. It is not investment advice. Please conduct your own research and manage your risk appropriately before making any trading decisions.
This is an analysis of Palantir (PLTR) on the 15-minute timeframe, highlighting a potential long trading opportunity.
Analysis:
The chart shows a key horizontal level at approximately $177.56. This price level previously acted as strong resistance in mid-September, rejecting upward price movement.
Recently, the price has successfully broken through and established itself above this former resistance. The current price action appears to be a retest of this level, which now has the potential to act as new support. This "resistance-turned-support" is a classic technical pattern that can signal a continuation of the bullish trend.
Trade Plan:
Entry: An entry is considered around the current support level of $177.56.
Stop Loss: To manage risk, a stop loss is placed at $169.67, below the recent swing low. A drop to this level would likely invalidate the bullish thesis.
Take Profit: The target for this long position is set at $198.07, aiming for a higher area of potential resistance.
This setup presents a favorable risk-to-reward ratio based on the levels identified on the chart.
Disclaimer: This is for educational purposes only and reflects a personal market analysis. It is not investment advice. Please conduct your own research and manage your risk appropriately before making any trading decisions.
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.