PLTR: You know how to deal with gaps, right?
Hello traders and investors! Let’s update our thoughts on PLTR today!
First, it defeated the $ 25.23 area we talked about last week, but only after it retested the purple trendline one more time. Now PLTR is defeating its resistances, and there’re no pullback/reversal signs around.
The 21 ema is pointing up, and it is another support level that could hold PLTR in case of a pullback.
Let’s look for more clues in the daily chart:
We have a secondary resistance at $ 27.41, but since PLTR has been defeating all its resistances, I see no reason to be concerned about this black line.
I still see the gap at $ 31.34 (yellow square) as a target for us. Remember, gaps work as magnets for the price. So far, we are making about 30% on PLTR, and if it fills the gap, we’ll do more than 50%.
Another trade we did using a gap as a guide was on PINS, which filled its gap today, and we bought when it did a bullish engulfing in the weekly chart. I didn’t write a free analysis about it, though, I’m just telling this for educational purposes, to show you how to use gaps in your favor.
This tells me that PLTR can hit our target, we just need to be patient.
If you liked this analysis, remember to follow me to keep in touch with my updates and ideas, and support this post if it helped you!
Thank you very much!
First, it defeated the $ 25.23 area we talked about last week, but only after it retested the purple trendline one more time. Now PLTR is defeating its resistances, and there’re no pullback/reversal signs around.
The 21 ema is pointing up, and it is another support level that could hold PLTR in case of a pullback.
Let’s look for more clues in the daily chart:
We have a secondary resistance at $ 27.41, but since PLTR has been defeating all its resistances, I see no reason to be concerned about this black line.
I still see the gap at $ 31.34 (yellow square) as a target for us. Remember, gaps work as magnets for the price. So far, we are making about 30% on PLTR, and if it fills the gap, we’ll do more than 50%.
Another trade we did using a gap as a guide was on PINS, which filled its gap today, and we bought when it did a bullish engulfing in the weekly chart. I didn’t write a free analysis about it, though, I’m just telling this for educational purposes, to show you how to use gaps in your favor.
This tells me that PLTR can hit our target, we just need to be patient.
If you liked this analysis, remember to follow me to keep in touch with my updates and ideas, and support this post if it helped you!
Thank you very much!
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