PLTR: The decisive moment is coming! Escaping the Trap Zone!
Hello traders and investors! Let’s see how PLTR is doing today! This one is one of the stocks I have on my radar, and I’ve been following it closely, and we have been doing weekly analyses about it.
In the 1h chart we see that PLTR is inside a Trap Zone, just like several other stocks. A Trap Zone is the area between the previous resistance (in this case the black line at $ 27.45) and the ascending 21 ema, which is squeezing the price within an area that gets tighter as time passes.
At one point, PLTR will be forced to do a breakout, but we just don’t know to which direction it will go. I don’t see a bright future if PLTR does a downwards breakout, as we are already quite close to its support, the red line at $ 25.18.
But if we consider an upwards breakout, the daily chart can offer us more clues:
The area between the gap (dotted line) and the previous resistance at $ 30.25 would work as a natural target if PLTR does an upward breakout from the Trap Zone. The only thing that is missing on PLTR is a nice volume.
In the worst-case scenario PLTR would hit the blue line at $ 22.50 again, while in the best-case scenario it would hit the $ 39.32. I think we can start working with the targets that are closer to us, for now.
What are your thoughts on PLTR? Remember to follow me to keep updated about my daily analyses on stocks, and if this idea gave you a new insight, please, support it with your like!
For more analyses, check the links below.
Thank you very much!
In the 1h chart we see that PLTR is inside a Trap Zone, just like several other stocks. A Trap Zone is the area between the previous resistance (in this case the black line at $ 27.45) and the ascending 21 ema, which is squeezing the price within an area that gets tighter as time passes.
At one point, PLTR will be forced to do a breakout, but we just don’t know to which direction it will go. I don’t see a bright future if PLTR does a downwards breakout, as we are already quite close to its support, the red line at $ 25.18.
But if we consider an upwards breakout, the daily chart can offer us more clues:
The area between the gap (dotted line) and the previous resistance at $ 30.25 would work as a natural target if PLTR does an upward breakout from the Trap Zone. The only thing that is missing on PLTR is a nice volume.
In the worst-case scenario PLTR would hit the blue line at $ 22.50 again, while in the best-case scenario it would hit the $ 39.32. I think we can start working with the targets that are closer to us, for now.
What are your thoughts on PLTR? Remember to follow me to keep updated about my daily analyses on stocks, and if this idea gave you a new insight, please, support it with your like!
For more analyses, check the links below.
Thank you very much!
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