Palantir Validated a Liquidity Zone, Whats Next?
If you saw my previous structural analysis, I had mentioned that Palantir was going to hit an institutional liquidity zone, and for the first time in several years, using common sense, the price was going to face rejection.
And that’s exactly what happened...
The price hit my point of interest and dropped for 3 days. However, the last candle with which we closed the week was green and had enough volume.
Why is this? If we can see 2 candles before the close, we can detect a trap that created a long wick downward, preventing the price from falling further. That’s the detail we're seeing before the week’s close—the last candle was bullish. We also can’t ignore that Palantir is only about 2 weeks away from its earnings report.
So, I don’t think the price will make a decisive move just yet, and even if it falls further, it would likely be around 38.50. However, the earnings strategy that traders are waiting for, where Palantir accumulates and begins to rise, is very close. So, we need to be very alert as we approach its earnings report on November 4th.
Best regards, and thank you for supporting my analysis.
And that’s exactly what happened...
The price hit my point of interest and dropped for 3 days. However, the last candle with which we closed the week was green and had enough volume.
Why is this? If we can see 2 candles before the close, we can detect a trap that created a long wick downward, preventing the price from falling further. That’s the detail we're seeing before the week’s close—the last candle was bullish. We also can’t ignore that Palantir is only about 2 weeks away from its earnings report.
So, I don’t think the price will make a decisive move just yet, and even if it falls further, it would likely be around 38.50. However, the earnings strategy that traders are waiting for, where Palantir accumulates and begins to rise, is very close. So, we need to be very alert as we approach its earnings report on November 4th.
Best regards, and thank you for supporting my analysis.
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