PLTR: Complete Multiple Time Frame Analysis after Earnings!
Hello traders and investors! Today PLTR reported its earnings, and the volatility increased, as expected. There are some key points we can use, and we’ll talk about them in this complete Multi Time Frame Analysis (MTFA).
First, now it is too late to buy. The time to buy was during the Ignition Bar evidenced in the 1h chart, which was a classic bullish candlestick pattern, just above the support at the purple trendline.
What’s more, PLTR just filled the first Breakaway Gap, which was my first target since the analysis I did on July 20, “PLTR: A very Technical Bullish Thesis”, which is public, and the link to it is below this post. If you buy now, it feels like you’ll buy from someone who bought at the Ignition Bar down there, and will use you to book profits. Always try to buy from who’s panicking, not with the herd.
If I were out, I would wait for the Risk/Reward ratio to make sense again, probably after a correction, near a support level. This wouldn’t change the bullish bias seen on PLTR, as I still believe we’ll seek the next gap at $ 26.32. The daily chart reinforces the bullish thesis:
The daily chart suggests that we can seek the $ 27.47. We just defeated the 38.2% Fibonacci’s Retracement, which worked as a resistance at least 2 times (Jul 12 and Aug 10). We also defeated the 21 ema, and the situation is clearly bullish. It would be good if it corrects again, but we can’t count on that.
It is interesting to notice that PLTR has been doing many good and technical movements. The bottom seen last month was just a pullback to the 61.8% Fibonacci’s Retracement, and it did a perfect Piercing Line candlestick pattern on Jul 19.
However, I have one more key point for you, and this time it is in the weekly chart:
Although the $ 27.47 is the target in the daily chart, this is a bullish pivot point in the weekly chart. If triggered, PLTR has a good chance of retesting its All-Time High again.
To sum up, if you aim for the short-term, you have an opportunity to book profits now, as we just hit the first target in the 1h chart. If you aim for the mid-term, the $ 27.47 is the target for you. In a longer-term perspective, if PLTR triggers the pivot point in the weekly chart, the $ 45 is where you should aim.
In addition, if you still don’t follow me, I invite you to do so! I write daily analysis here on Tradingview, and I’m sure you’ll find something interesting around.
Take care, my friends!
First, now it is too late to buy. The time to buy was during the Ignition Bar evidenced in the 1h chart, which was a classic bullish candlestick pattern, just above the support at the purple trendline.
What’s more, PLTR just filled the first Breakaway Gap, which was my first target since the analysis I did on July 20, “PLTR: A very Technical Bullish Thesis”, which is public, and the link to it is below this post. If you buy now, it feels like you’ll buy from someone who bought at the Ignition Bar down there, and will use you to book profits. Always try to buy from who’s panicking, not with the herd.
If I were out, I would wait for the Risk/Reward ratio to make sense again, probably after a correction, near a support level. This wouldn’t change the bullish bias seen on PLTR, as I still believe we’ll seek the next gap at $ 26.32. The daily chart reinforces the bullish thesis:
The daily chart suggests that we can seek the $ 27.47. We just defeated the 38.2% Fibonacci’s Retracement, which worked as a resistance at least 2 times (Jul 12 and Aug 10). We also defeated the 21 ema, and the situation is clearly bullish. It would be good if it corrects again, but we can’t count on that.
It is interesting to notice that PLTR has been doing many good and technical movements. The bottom seen last month was just a pullback to the 61.8% Fibonacci’s Retracement, and it did a perfect Piercing Line candlestick pattern on Jul 19.
However, I have one more key point for you, and this time it is in the weekly chart:
Although the $ 27.47 is the target in the daily chart, this is a bullish pivot point in the weekly chart. If triggered, PLTR has a good chance of retesting its All-Time High again.
To sum up, if you aim for the short-term, you have an opportunity to book profits now, as we just hit the first target in the 1h chart. If you aim for the mid-term, the $ 27.47 is the target for you. In a longer-term perspective, if PLTR triggers the pivot point in the weekly chart, the $ 45 is where you should aim.
In addition, if you still don’t follow me, I invite you to do so! I write daily analysis here on Tradingview, and I’m sure you’ll find something interesting around.
Take care, my friends!
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