PLTR: Complete Multiple Time Frame Analysis (H, D and W charts)!
Hello traders and investors! Let’s see how PLTR is doing today, and do a complete study on it - a Multiple Time Frame Analysis (MTFA).
Since our last analysis, PLTR is doing well, as it is still accumulating, and we have some bullish signs around too, despite the apparent congestion.
The 21 ema is flat, and it is useless for un, in the 1h chart, at least. But we have a support made by the purple trendline (3 touches), and a resistance made by the black line at $ 22.67 (2 touches). This is an Ascending Triangle chart pattern, and reinforces our previous idea that the $ 22.67 is the main key point here.
By defeating the $ 22.67, PLTR will engage in a bull trend again, and the targets are quite clear (short-term): 1) Minor resistance at $ 23.39; 2) First gap at $ 24.62; 3) Last gap at $ 26.32.
In the daily chart, we see that the $ 22.67 is a main resistance, along with the 21 ema. This is a dual-resistance zone, and if defeated, in the mid-term, the next resistance is the $ 27.47. PLTR has good chances of getting there, as this point is close to the last target seen in the 1h chart, the gap at $ 26.32. Remember: Gaps work as magnets.
Now, if PLTR defeats the $ 27.47 it’ll trigger a bullish pivot point, and this might lead us to the ATH again. However, this is a long-term view, and I rather work with the short/mid-term targets for now. If it’ll defeat the $ 27.47, we don’t know (we even don’t know if we’ll get there, in the first place).
The good news is that we don’t need to know, as the charts will tell us how to proceed, when the time comes. And if you liked this analysis, remember to follow me to keep in touch with my daily updates.
Thank you very much!
Since our last analysis, PLTR is doing well, as it is still accumulating, and we have some bullish signs around too, despite the apparent congestion.
The 21 ema is flat, and it is useless for un, in the 1h chart, at least. But we have a support made by the purple trendline (3 touches), and a resistance made by the black line at $ 22.67 (2 touches). This is an Ascending Triangle chart pattern, and reinforces our previous idea that the $ 22.67 is the main key point here.
By defeating the $ 22.67, PLTR will engage in a bull trend again, and the targets are quite clear (short-term): 1) Minor resistance at $ 23.39; 2) First gap at $ 24.62; 3) Last gap at $ 26.32.
In the daily chart, we see that the $ 22.67 is a main resistance, along with the 21 ema. This is a dual-resistance zone, and if defeated, in the mid-term, the next resistance is the $ 27.47. PLTR has good chances of getting there, as this point is close to the last target seen in the 1h chart, the gap at $ 26.32. Remember: Gaps work as magnets.
Now, if PLTR defeats the $ 27.47 it’ll trigger a bullish pivot point, and this might lead us to the ATH again. However, this is a long-term view, and I rather work with the short/mid-term targets for now. If it’ll defeat the $ 27.47, we don’t know (we even don’t know if we’ll get there, in the first place).
The good news is that we don’t need to know, as the charts will tell us how to proceed, when the time comes. And if you liked this analysis, remember to follow me to keep in touch with my daily updates.
Thank you very much!
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