Nathan_Black

PLTR: Watch Out For This Key Point.

BATS:PLTR   Palantir Technologies Inc.
The PLTR chart on the daily and hourly timeframes shows key levels and patterns that suggest potential trading opportunities.

Recently, the price action shows a breakout above the previous resistance level of $27.50, turning it into a new support level. This breakout is a bullish sign, suggesting that the stock has the momentum to seek higher levels.

However, the price has pulled back slightly, indicating a possible retest of the $27.50 support level before continuing its upward trajectory. The stock has been in a strong uptrend, riding above the 21-day EMA. This EMA line has acted as dynamic support, helping to push the stock higher.

On the hourly chart, the price action mirrors the daily trend with a clear uptrend supported by the 21-hour EMA. The price recently broke above the key level of $27.50 and is now consolidating above this level.

This consolidation phase could be seen as the stock gathering strength for the next leg up. The $27.50 level now serves as a critical support on the hourly chart, and a sustained move above this level would confirm the bullish bias.

PLTR is showing bullish signs on both the daily and hourly charts. The key levels to watch are $27.50 for support and the EMA on the hourly chart. A successful retest and hold of the $27.50 support level could maintain the bullish bias, and PLTR would seek higher levels after that. If PLTR fails to hold above its support levels, then it would seek its next support levels, like the $25 area, or even the 21 EMA on the daily chart again. This week is going to be decisive.

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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.

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