PLTR: Targets to work with for the short/mid-term!

19 เม.ย. 2021

Hello traders and investors! Let’s see how PLTR is doing today!

In our last study, PLTR was looking great, but the Gift pattern didn’t work this time, and now it is just heading to the next support levels. Now, we have a short-term bear trend in the 1h chart, and no reaction sign ahead.

The only way PLTR could reverse this bearish sentiment would be if it does a bullish structure, like a bullish chart pattern, or triggers a pivot point.

The $ 22.06 is a nice support level, and if PLTR closes above it tomorrow, the market may see a false breakout form a support level, but it seems this is not going to happen, and PLTR will seek the next support at $ 21.07.

Now, let’s see if the daily chart offers more clues:



The interesting thing here is that PLTR is dropping in the past few days, but the volume has been decreasing too. This shows exhaustion form the bears, and any bullish reaction will be more than enough to reverse this trend.

The $ 24.45 is a resistance to be defeated in order for it to seek the gap at $ 31.34. In the worst-case scenario PLTR will seek the support at the red line again.

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Thank you very much!