PLTR: Next challenges and TARGETS! Complete Analysis.
Hello traders and investors! Let’s do a complete Multi Time Frame Analysis on Palantir today!
Yes, PLTR defeated its first challenge in order to reverse the bearish momentum seen in the hourly chart: It defeated the purple trendline we discussed yesterday. Now, there are still some challenges, and we’ll talk about them here. And if you missed my previous analysis on PLTR, the link to it is below.
The next challenge PLTR has to face is this pink line. If PLTR closes above this level, it’ll be another good sign that the trend is ready to resume. The other challenge is the 21 ema, which is flat right now (two days ago it was pointing down, so this is a good sign).
If PLTR engages in a bull trend again, the next target would be the All Time High (ATH) again.
Let’s see the daily chart:
I find it good that the white candlesticks have higher volume than the average. This tells me that there is no real reason to panic here. And as long as this Morning Star keeps valid, PLTR will keep climbing, maybe slowly, but it will.
The only thing that could get in PLTR’s way here would be if next week the gap of this Morning Star in the daily chart (Island Reversal in the hourly chart) gets filled. This would be a sign of weakness of the buyers.
So, we would have the bulls and the bears tired, and this would make the stock move erratically for some time.
Now, you may be asking what the worst-case scenario for PLTR would be. I rarely use Fibonacci, but I would use it I the weekly chart to see how far it could drop:
The $ 18 region is the 61.8% retracement. If we see a real sell-off here, that would be my target for PLTR, using Fibonacci. It looks like we have a Dark Cloud Cover candlestick pattern in the weekly chart as well, but it wasn’t triggered yet.
Even if PLTR drops to the $ 18 again, I would see it as an opportunity to buy, because the trend is clearly bullish in the mid-term.
Of course, this would be the worst-case scenario, and PLTR must trigger some patterns to make this happen, just like it has some challenges before it can resume the bull trend. The situation is quite complex, but looking at the technical points, I still see no reason to worry about PLTR.
And remember to follow me to keep in touch with my daily analyses! And please, support this idea if you find it helpful.
Have a great weekend.
Thank you very much.
Yes, PLTR defeated its first challenge in order to reverse the bearish momentum seen in the hourly chart: It defeated the purple trendline we discussed yesterday. Now, there are still some challenges, and we’ll talk about them here. And if you missed my previous analysis on PLTR, the link to it is below.
The next challenge PLTR has to face is this pink line. If PLTR closes above this level, it’ll be another good sign that the trend is ready to resume. The other challenge is the 21 ema, which is flat right now (two days ago it was pointing down, so this is a good sign).
If PLTR engages in a bull trend again, the next target would be the All Time High (ATH) again.
Let’s see the daily chart:
I find it good that the white candlesticks have higher volume than the average. This tells me that there is no real reason to panic here. And as long as this Morning Star keeps valid, PLTR will keep climbing, maybe slowly, but it will.
The only thing that could get in PLTR’s way here would be if next week the gap of this Morning Star in the daily chart (Island Reversal in the hourly chart) gets filled. This would be a sign of weakness of the buyers.
So, we would have the bulls and the bears tired, and this would make the stock move erratically for some time.
Now, you may be asking what the worst-case scenario for PLTR would be. I rarely use Fibonacci, but I would use it I the weekly chart to see how far it could drop:
The $ 18 region is the 61.8% retracement. If we see a real sell-off here, that would be my target for PLTR, using Fibonacci. It looks like we have a Dark Cloud Cover candlestick pattern in the weekly chart as well, but it wasn’t triggered yet.
Even if PLTR drops to the $ 18 again, I would see it as an opportunity to buy, because the trend is clearly bullish in the mid-term.
Of course, this would be the worst-case scenario, and PLTR must trigger some patterns to make this happen, just like it has some challenges before it can resume the bull trend. The situation is quite complex, but looking at the technical points, I still see no reason to worry about PLTR.
And remember to follow me to keep in touch with my daily analyses! And please, support this idea if you find it helpful.
Have a great weekend.
Thank you very much.
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