PLTR: Is there any hope for PLTR?
Hello traders and investors! Let’s talk about PLTR today!
Today, PLTR lost the black line we discussed in my last analysis, and it also triggered a Head and Shoulders chart pattern. This is quite bearish, but let’s see if there’s any reason to panic. Also, if you missed my last analysis, just check the link below.
In the hourly chart, PLTR has a clear target around $ 28.07, and the 21 ema and the black lines are supposed to work as resistances from now on. But there’s hope for PLTR, and we must look at the daily chart to see it better:
The black line was the November ATH, and it worked as a support quite well, but now PLTR lost it, and it seems it is reacting near the 21 ema in the daily chart, which is a good sign, and if we see a bullish reaction, it’ll frustrate the bearish signs seen in the hourly chart.
Keep in mind that this drop had low volume, making it a simple pullback. What’s more, PLTR triggered an IH&S pattern, and pullbacks are normal after such pattern, as they occur about 66% of the time.
There’s still hope for PLTR, but we must have the right timing. Probably we’ll see an opportunity there soon. And remember to follow me to keep in touch with my daily studies, and please, support this idea if you liked it!
Thank you very much!
Today, PLTR lost the black line we discussed in my last analysis, and it also triggered a Head and Shoulders chart pattern. This is quite bearish, but let’s see if there’s any reason to panic. Also, if you missed my last analysis, just check the link below.
In the hourly chart, PLTR has a clear target around $ 28.07, and the 21 ema and the black lines are supposed to work as resistances from now on. But there’s hope for PLTR, and we must look at the daily chart to see it better:
The black line was the November ATH, and it worked as a support quite well, but now PLTR lost it, and it seems it is reacting near the 21 ema in the daily chart, which is a good sign, and if we see a bullish reaction, it’ll frustrate the bearish signs seen in the hourly chart.
Keep in mind that this drop had low volume, making it a simple pullback. What’s more, PLTR triggered an IH&S pattern, and pullbacks are normal after such pattern, as they occur about 66% of the time.
There’s still hope for PLTR, but we must have the right timing. Probably we’ll see an opportunity there soon. And remember to follow me to keep in touch with my daily studies, and please, support this idea if you liked it!
Thank you very much!
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