PLTR: A Major Turning Point! (D&W charts)

30 ก.ค.

On the daily chart, we see a bearish pivot point, which suggests a potential shift in the trend after an upward movement - if triggered. This pivot point will be triggered if the price closes below the 25.42 level, indicating increased selling pressure. The 21-day EMA, currently at 27.00, acted as a dynamic resistance during this decline, further validating the bearish sentiment.

On the weekly chart, a bearish engulfing pattern emerged near the 29.29 resistance level. This is PLTR's major resistance level, as we identified in our previous public analysis. This pattern typically indicates a reversal in the upward trend, as the large bearish candle completely engulfs the preceding smaller bullish candle. If PLTR triggers the bearish pivot point on the daily chart, it is possible to see its price back to the 21 ema on the weekly chart.

These combined signals from the daily and weekly charts suggest caution, as the bearish patterns and pivot points highlight potential downward pressure. The key levels to watch are the support at 25.42 and the resistance at 29.29, as these will likely dictate the next major move for PLTR.

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.