Will PLTR Push Through the Gamma Wall? Jun 24🔍 Overview:
Palantir Technologies (PLTR) is trading at $139.92 (+1.91%) as of June 23 close. After days of range-bound action, bulls are trying to reclaim critical levels while battling overhead gamma resistance. With Smart Money Concepts showing both BOS and CHoCH, the next move could be explosive.
🔩 Market Structure (SMC View):
* 15m Chart:
* Clear Break of Structure (BOS) upward in morning session.
* Followed by Change of Character (CHoCH) bearish in the afternoon.
* Price tapped into a green demand zone and reacted with a bounce near $137.
* A re-test of the red CHoCH supply zone around $140.50–$141.30 is in progress.
* Trendlines suggest a tightening wedge, with the top of the channel converging near $144.
🧠 GEX and Options Sentiment:
* Gamma Wall (Call Resistance):
🔼 $142–143 zone – Highest net GEX (CALL wall), where market makers may start shorting gamma, creating resistance.
* Major Call Walls:
* $145 (12.37% GEX)
* $149–150 (Strongest 2nd layer walls)
* PUT Wall Support:
* $130 major PUT support (7.49% wall)
* $134 is minor soft support area.
* IV & Sentiment:
* 📉 IV Rank (IVR): 17.3 – low, indicating cheap premiums.
* Call Buying Strength: 38.4% – moderately bullish.
🔄 Key Zones:
* 🔴 Supply Zone (CHoCH): $140.50–$141.30
* 🟢 Demand Zone (CHoCH): $135.97–$137.30
* ⚠️ Trap Range: Between $137 and $141 — liquidity likely to be swept in both directions before a move.
📈 Trade Setups:
Bullish Scenario:
* Entry: On break and close above $141.50 with retest confirmation.
* Targets:
* $143 → Minor profit-taking zone
* $145 → Next GEX wall
* $149–$150 → High GEX squeeze potential
* Stop: Below $137.30 or mid-channel around $136.50
📌 Ideal if price reclaims above the CHoCH zone and builds volume support near $141.
Bearish Scenario:
* Entry: Rejection from $141.30 supply or breakdown under $137.
* Targets:
* $135.97 → First reaction zone
* $134 → Secondary support
* $130 → Strong GEX-supported PUT level
* Stop: Above $141.60 or structure high of $142.15
📌 Watch for reversal signs inside supply zone or heavy selling into demand.
🔮 Bias:
Neutral-to-Bullish → ⚔️ Battle at $141 CHoCH zone. Gamma resistance is real, but if broken, it could fuel a gamma squeeze toward $145+.
💡 Actionable Advice:
* Scalpers: Fade resistance near $141.30 unless it breaks clean.
* Swing Traders: Wait for break and retest of $141.50 → target $145+.
* Options Traders:
* Low IVR = Great time to buy CALLS if bullish.
* If expecting chop, long straddle at $140 may work before the move.
📌 Conclusion:
PLTR is consolidating right beneath a major gamma wall and previous SMC CHoCH level. If bulls can break through $141.50 with strength, we could see a momentum move to $145 and even $150 this week. Until then, volatility traps remain likely within $137–$141.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and trade responsibly.
