PLTR: How to proceed and what's next for it?
Hello traders and investors! Let’s see how PLTR is doing, and if it has been moving according to the technique and to what we discussed last week!
First, yes, as we already figured out, this is an annoying congestion, indeed, and the support level at the blue line ($ 22.84) has been holding the price quite well, at least until now.
But that’s ok, as this congestion at least broke the bearish bias seen from March 15 – 30. We talked about all these points in previous analyses, which you may find the links below in this post, if you are curious.
Now, if PLTR loses this blue line, then probably it’ll fill the gap (yellow area) and hit the $ 22.06, then we must wait to see how it’ll react there. Otherwise, if it defeats the green line at $ 24.45 again, then PLTR will probably reverse the trend to bullish in the daily chart:
The green line is a pivot point, and PLTR would also break the 21 ema as well. There are good chances that it will hit the $ 22.06 again, but if it reacts and triggers this pivot point, then PLTR will have everything to fly again.
The volume increased recently, which is something to notice. If we see a correction on the Nasdaq Index, hardly PLTR will fly right now, so, keep in mind that this stock might test our nerves in the next few days, before it can give us any interesting sign.
Remember to follow me if you liked this analysis and to support this idea with your like! Let’s follow PLTR closely from now on!
Thank you very much. Have a great week!
First, yes, as we already figured out, this is an annoying congestion, indeed, and the support level at the blue line ($ 22.84) has been holding the price quite well, at least until now.
But that’s ok, as this congestion at least broke the bearish bias seen from March 15 – 30. We talked about all these points in previous analyses, which you may find the links below in this post, if you are curious.
Now, if PLTR loses this blue line, then probably it’ll fill the gap (yellow area) and hit the $ 22.06, then we must wait to see how it’ll react there. Otherwise, if it defeats the green line at $ 24.45 again, then PLTR will probably reverse the trend to bullish in the daily chart:
The green line is a pivot point, and PLTR would also break the 21 ema as well. There are good chances that it will hit the $ 22.06 again, but if it reacts and triggers this pivot point, then PLTR will have everything to fly again.
The volume increased recently, which is something to notice. If we see a correction on the Nasdaq Index, hardly PLTR will fly right now, so, keep in mind that this stock might test our nerves in the next few days, before it can give us any interesting sign.
Remember to follow me if you liked this analysis and to support this idea with your like! Let’s follow PLTR closely from now on!
Thank you very much. Have a great week!
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