PLTR: Light in the end of the tunnel?

2021年3月5日

Hello traders and investors! Let’s talk about PLTR today! Let’s begin with the daily chart, then we talk about the weekly chart.

First, the problem with PLTR is that it is losing its support level at $ 22.50. This would be dangerous, as PLTR has no other clear support levels below this point (maybe the $ 17, but I’m not sure).

On the other hand, now would be the perfect time for a reaction. If we see a bullish sign on Monday, or a strong reaction today, the market may see a false breakout from this support level, and this could be a buy opportunity. Movements like this are buy opportunities because the Risk/Reward ratio is very attractive, and investors like good R/R ratio.

But we must see a good reaction quickly, otherwise, the bear trend will persist. Now, the weekly chart:



PLTR is not only near a support level in the daily chart. In the weekly chart, the stock just dropped to hit its 21 ema (it is a brand-new 21 ema, yes, because PLTR is a quite new stock as well, but we can’t deny we have one 21 ema now).

We have 2 support levels in different time frames, and this is why I see this moment as a good opportunity for a reaction. It is not a buy, but it is not a sell either. We must patiently wait for more signs on PLTR.

Given the high volume during the recent sell-off, we can assume that PLTR will not react and fly again. Scenarios like this are very unlikely after a sell-off with high volume. The volume must decrease first, and the stock must do some accumulation patterns before it can fly again, in my opinion.

Let’s follow PLTR closely from now on, and if you want to keep in touch with my daily studies, remember to follow me. And if you’ve made this far, it means you found this analysis good in some way. If that’s the case, please, support it!

Thank you very much, have a nice weekend.