PLTR: Complete analysis (H, D and W charts).

2021年7月15日

Hello traders and investors! Let’s see how PLTR is doing today, and do a complete study in multiple time frames (H, D and W).

First, in the 1h chart, the momentum is clearly bearish, and it is quite strong. We have two Breakaway Gaps, lower highs/lows, the 21 ema is pointing down and at any moment, we could close above it, since the beginning of the sell-off. We just hit the 21 ema to fall again.

Yesterday we lost the short-term support at $ 22.35, and it seems we have nothing to hold us. We have to zoom out a little bit to see the bigger picture:



When I’m lost, I like to use Fibonacci. Notice how PLTR is respecting the retracements, as it found a quick support at the 50%, bounced back up to the 38.2% and now it is dropping again. This tells me that there’s a good chance we’ll find a support at the 61.8% retracement now.

Therefore, the daily chart suggests that we could drop more 2 or 3% and that’s fine. I don’t see PLTR crashing or any extreme scenario here, and I consider this a correction.



If you look at the weekly chart, you’ll see that the last 3 candlesticks have very low volume. This tells us that PLTR is dropping due to the lack of momentum, instead of a real sell-off.

Since PLTR went up more than 60% since May’s bottom to our target at $ 27, it is normal that it’ll correct, and the Fibonacci’s Retracements are here to guide us in the mid-term.

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Thank you very much!