PLTR: Complete Analysis (Hourly/Daily/Weekly charts).
Hello traders and investors! Let’s see how PLTR is doing today, and do a complete Multi Time Frame Analysis (MTFA) by looking at the hourly, daily and weekly charts!
This stock dropped sharply in the past few weeks, but right now it is doing something interesting. For the first time, it is breaking the bearish bias seen since it started its fall around the green line ($ 37.95), as we see higher highs/higher lows. This movment is natural, and not surprising at all, as we already discussed in my previous analysis, last week (link below).
What’s more, the 21 ema is pointing up, and the price is above it. We can assume it’ll reverse the bearish sentiment seen in the daily chart as well.
The bias is still bearish in the daily chart, but if the 1h chart persists in its bullish sentiment, then the trend will eventually reverse in the daily chart too. What are the main challenges PLTR has right now?
First, the 21 ema, which might offer resistance today or tomorrow. Second, the volume is still quite low, so, looking at the daily chart some people might not be entirely convinced by it.
Aside from that, if PLTR keeps trading at this level until the end of this Friday, the weekly chart could be very interesting:
At any moment the bears could make PLTR trade under the 21 ema and the 61.8% Fibonacci’s Retracement, and this is interesting. Clearly, this combination makes a very strong support level.
In fact, PLTR did a very powerful Hammer candlestick pattern last week, with a nice shadow under the candlestick’s body, a good thing when we talk about Hammers. And this week we have a Bullish Engulfing (so far), making the situation quite bullish.
Now, the 50% retracement may work as a support, but I believe the 38.2% level is more interesting, as it is exactly at the same price level where it would fill a gap.
If you liked this analysis, remember to follow me to keep in touch with my daily analyses, and please, support this idea with your like!
Thank you very much!
This stock dropped sharply in the past few weeks, but right now it is doing something interesting. For the first time, it is breaking the bearish bias seen since it started its fall around the green line ($ 37.95), as we see higher highs/higher lows. This movment is natural, and not surprising at all, as we already discussed in my previous analysis, last week (link below).
What’s more, the 21 ema is pointing up, and the price is above it. We can assume it’ll reverse the bearish sentiment seen in the daily chart as well.
The bias is still bearish in the daily chart, but if the 1h chart persists in its bullish sentiment, then the trend will eventually reverse in the daily chart too. What are the main challenges PLTR has right now?
First, the 21 ema, which might offer resistance today or tomorrow. Second, the volume is still quite low, so, looking at the daily chart some people might not be entirely convinced by it.
Aside from that, if PLTR keeps trading at this level until the end of this Friday, the weekly chart could be very interesting:
At any moment the bears could make PLTR trade under the 21 ema and the 61.8% Fibonacci’s Retracement, and this is interesting. Clearly, this combination makes a very strong support level.
In fact, PLTR did a very powerful Hammer candlestick pattern last week, with a nice shadow under the candlestick’s body, a good thing when we talk about Hammers. And this week we have a Bullish Engulfing (so far), making the situation quite bullish.
Now, the 50% retracement may work as a support, but I believe the 38.2% level is more interesting, as it is exactly at the same price level where it would fill a gap.
If you liked this analysis, remember to follow me to keep in touch with my daily analyses, and please, support this idea with your like!
Thank you very much!
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