PLTR Technical Analysis for Oct. 28,2024

Here’s a technical analysis for PLTR ahead of tomorrow’s trading session:

Trend and Price Action: PLTR shows an uptrend with a strong upward move recently, consolidating just below resistance levels. The trendline in place could act as dynamic support if there’s a pullback.

Support and Resistance Levels:

Resistance: Key resistance lies around $45.07, and a break above this could signal further bullish momentum, targeting higher levels in the $46-$47 range.
Support: Immediate support is around $43.67, with a stronger zone near $42.50–$42.06, where buying interest may step in.

MACD Indicator: The MACD appears to be approaching a crossover point. A bullish crossover could reinforce upward momentum, while a bearish crossover might indicate consolidation or a pullback.

Volume: The recent increase in volume aligns with upward momentum, signaling buying interest. However, if volume decreases during consolidation, it could suggest an imminent breakout or breakdown.

Suggested Strategy
Bullish Scenario: If PLTR breaks above $45.07, consider entering with a target of $46, with stops below $44 for risk management.

Bearish Scenario: If PLTR retraces, look for support around $42.50–$42.06 to consider long entries. A breakdown below $42 could signal a change in trend.

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Please conduct your own research or consult a professional before making any trading decisions.