PLTR: Teaching Technical Analysis to us!
Hello traders and investors! Let’s see how PLTR is doing today!
First, as we discussed in our last study, PLTR found a support level at $ 22.84, it reacted very well, and it broke the green line at $ 24.45. This is a great sign, and likely PLTR will seek higher levels now. To check our last study, the link to it is below this analysis.
Yesterday’s movement was important because PLTR is now free from the previous congestion, and what’s more, it seems the $ 24.45 is going to work as a support next, following the Principle of Polarity.
Now, let’s see the daily chart:
In the daily chart, we see a nice Ignition Bar yesterday, breaking the 21 ema along with the $ 24.45, and a nice increase of the volume.
All of this, in addition to the bullish signs seen in the 1h chart, tells me that PLTR is going to fill the gap (yellow area) at $ 31.34. The only problem is if it is worth an entry point, and if the R/R ratio makes sense.
It seems we have a Gift pattern today, which is just a correction seen in smaller time frames, translating into a small black candlestick in the daily chart. This could offer an opportunity, indeed, but there’s a right way and a wrong way of trading Gifts, and we must wait until the end of the day for more definition.
If this analysis helped you, remember to like it! And I invite you to follow me to keep in touch with my daily updates.
Thank you very much!
First, as we discussed in our last study, PLTR found a support level at $ 22.84, it reacted very well, and it broke the green line at $ 24.45. This is a great sign, and likely PLTR will seek higher levels now. To check our last study, the link to it is below this analysis.
Yesterday’s movement was important because PLTR is now free from the previous congestion, and what’s more, it seems the $ 24.45 is going to work as a support next, following the Principle of Polarity.
Now, let’s see the daily chart:
In the daily chart, we see a nice Ignition Bar yesterday, breaking the 21 ema along with the $ 24.45, and a nice increase of the volume.
All of this, in addition to the bullish signs seen in the 1h chart, tells me that PLTR is going to fill the gap (yellow area) at $ 31.34. The only problem is if it is worth an entry point, and if the R/R ratio makes sense.
It seems we have a Gift pattern today, which is just a correction seen in smaller time frames, translating into a small black candlestick in the daily chart. This could offer an opportunity, indeed, but there’s a right way and a wrong way of trading Gifts, and we must wait until the end of the day for more definition.
If this analysis helped you, remember to like it! And I invite you to follow me to keep in touch with my daily updates.
Thank you very much!
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