PLTR: Several bullish signs triggered. What's next?
Hello traders and investors! Let’s study PLTR today!
Ok, PLTR resumed the bull trend, as we expected it would in my last analysis, but today is doing another pullback. This is a natural movement, and PLTR could hit the 21 ema and this wouldn’t ruin the bull trend.
In my last analysis (the link to it is below, if you missed) we discussed the several patterns that made PLTR rise this week. First, we had an Island Reversal pattern, second, PLTR defeated the purple trendline. This made the bear momentum weaker, but it wasn’t enough. The last catalyst was the pink line being defeated.
These technical movements made PLTR engage in a bullish momentum again, at least for the short-term. Now, let’s look at the daily chart:
The Island Reversal pattern in the hourly chart was a Morning Star candlestick pattern in the daily chart. This is curious.
Also, remember that I said the volume wasn’t convincing me that we were going to see a sharper pullback? The black candlestick seen on Friday had a volume way lower than the white ones. This tells me that pullbacks aren’t real selloffs, but opportunities to buy, as you’ll take advantage of the market’s tiredness.
Regardless if we’ll see any other pullback here, since PLTR engaged in a bull trend again, I think we can set out our next target at the ATH now. And if you liked this analysis, remember to follow me to keep in touch with my daily updates! And please, support this idea if it helped you in some way!
Thank you very much for your attention.
Ok, PLTR resumed the bull trend, as we expected it would in my last analysis, but today is doing another pullback. This is a natural movement, and PLTR could hit the 21 ema and this wouldn’t ruin the bull trend.
In my last analysis (the link to it is below, if you missed) we discussed the several patterns that made PLTR rise this week. First, we had an Island Reversal pattern, second, PLTR defeated the purple trendline. This made the bear momentum weaker, but it wasn’t enough. The last catalyst was the pink line being defeated.
These technical movements made PLTR engage in a bullish momentum again, at least for the short-term. Now, let’s look at the daily chart:
The Island Reversal pattern in the hourly chart was a Morning Star candlestick pattern in the daily chart. This is curious.
Also, remember that I said the volume wasn’t convincing me that we were going to see a sharper pullback? The black candlestick seen on Friday had a volume way lower than the white ones. This tells me that pullbacks aren’t real selloffs, but opportunities to buy, as you’ll take advantage of the market’s tiredness.
Regardless if we’ll see any other pullback here, since PLTR engaged in a bull trend again, I think we can set out our next target at the ATH now. And if you liked this analysis, remember to follow me to keep in touch with my daily updates! And please, support this idea if it helped you in some way!
Thank you very much for your attention.
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