Because it continuously fails the 9day MA; I think the 200day MA (white line) is more likely an entry.
I'm cautiously bullish on NYSE:PLTR but this huge market bullrun this year makes the need for good entries ultra competitive.
I would start buying NYSE:PLTR around $20 (maybe) depending on my capital availability; and I would use short credit puts below $19 to monetize and leverage my position.
I will have to re-evaluate this when those conditions are met; nothing is certain until the ink is dried.