PLTR: Explosive Move! New ATH After Earnings Report.
Daily Chart (Left)
Explosive Move: The price surged more than 20% following a strong earnings release, indicating high investor interest and strong buying momentum.
New Support at $45: The $45 level, previously acting as resistance, now serves as a potential support according to the principle of polarity. Monitoring this level is crucial for any pullbacks or consolidations. Therefore, even if we see PLTR losing momentum, any pullback to the $45 won't ruin the uptrend.
Strong Uptrend: The moving average (21 EMA) supports the ongoing bullish trend, with the price well above it.
Weekly Chart (Right)
All-Time High Breakout: The price has broken past its previous all-time high, confirming strong bullish momentum on a larger time frame.
Sustained Upward Trend: The consistent uptrend since mid-2023 continues with increasing strength, supported by a steep rise in the weekly 21 EMA.
Trading Implications:
PLTR is currently experiencing strong bullish momentum, marked by an impressive breakout following earnings. The $45 level is crucial to watch for potential support on pullbacks. The trend remains bullish as long as the price stays above the 21 EMA and the support level holds.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
Explosive Move: The price surged more than 20% following a strong earnings release, indicating high investor interest and strong buying momentum.
New Support at $45: The $45 level, previously acting as resistance, now serves as a potential support according to the principle of polarity. Monitoring this level is crucial for any pullbacks or consolidations. Therefore, even if we see PLTR losing momentum, any pullback to the $45 won't ruin the uptrend.
Strong Uptrend: The moving average (21 EMA) supports the ongoing bullish trend, with the price well above it.
Weekly Chart (Right)
All-Time High Breakout: The price has broken past its previous all-time high, confirming strong bullish momentum on a larger time frame.
Sustained Upward Trend: The consistent uptrend since mid-2023 continues with increasing strength, supported by a steep rise in the weekly 21 EMA.
Trading Implications:
PLTR is currently experiencing strong bullish momentum, marked by an impressive breakout following earnings. The $45 level is crucial to watch for potential support on pullbacks. The trend remains bullish as long as the price stays above the 21 EMA and the support level holds.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
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