PLTR: Could it CRASH next? Let's see.
Hello traders and investors! Let’s see how PLTR is doing today!
As we can see in the 1h chart, PLTR is in a slow bull trend, doing higher highs/lows, always respecting the red line (while it ignores the 21 ema). It seems the green line at $ 26.74 area is a ceiling for PLTR, and a resistance it must break in order to resume the trend.
The area between this green red lines is called “Trap Zone”. The price will get squeezed in a tighter area as the time passes, and sooner or later, it’ll explode, we just don’t know it will be upwards or downwards. The chances are that it’ll explode upwards, as it follows the main bullish trend.
Now, let’s the daily chart:
Last time PLTR retested the red line in the 1h chart was at the same say it retested the 21 ema in the daily chart, which is a much more reliable support level in this time frame. This made the area around the $ 25 a Dual-Support level, and a key point for PLTR.
Next week we’ll see its earnings, and this surely will bring some volatility. Last time it reported earnings, it went up a lot, and I’m curious to see how it’ll react next week.
As long as we keep above the 21 ema, the trend will remain bullish.
If you liked this analysis, remember to follow me to keep in touch with my daily updates on stocks and indices.
All the best to you.
As we can see in the 1h chart, PLTR is in a slow bull trend, doing higher highs/lows, always respecting the red line (while it ignores the 21 ema). It seems the green line at $ 26.74 area is a ceiling for PLTR, and a resistance it must break in order to resume the trend.
The area between this green red lines is called “Trap Zone”. The price will get squeezed in a tighter area as the time passes, and sooner or later, it’ll explode, we just don’t know it will be upwards or downwards. The chances are that it’ll explode upwards, as it follows the main bullish trend.
Now, let’s the daily chart:
Last time PLTR retested the red line in the 1h chart was at the same say it retested the 21 ema in the daily chart, which is a much more reliable support level in this time frame. This made the area around the $ 25 a Dual-Support level, and a key point for PLTR.
Next week we’ll see its earnings, and this surely will bring some volatility. Last time it reported earnings, it went up a lot, and I’m curious to see how it’ll react next week.
As long as we keep above the 21 ema, the trend will remain bullish.
If you liked this analysis, remember to follow me to keep in touch with my daily updates on stocks and indices.
All the best to you.
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