Nathan_Black

PLTR: Trying to reverse the trend!

NYSE:PLTR   Palantir Technologies Inc
Hello traders and investors! Let’s see how PLTR is doing today!

We have a solid bull trend in the 1h chart, as we have higher highs/lows, and a trendline connecting the previous bottoms. What’s more, PLTR defeated every single of its resistances, showing some strength. This is good, and it reinforces our bullish thesis, since our last analysis, last week (link to it below).

Pullbacks to its support levels, like the trendline, 21 ema , or any of the black lines would be just opportunities to buy. This bull trend is spreading to the daily chart as well:


There are two good things here. First, it defeated the $ 21.60, which was a pivot point. Second, it is trading above the 21 ema again. Yes, PLTR had similar patterns in the past, and it failed, so, why would this time be different?

Because PLTR did a false breakout from the $ 20.18, and the volume increased a lot over there. This means that there are people aggressively buying PLTR near support levels, and the more it drops the better. It is almost reversing the trend for good in the daily chart , it seems we just need more conviction.

Now, the volume is normal, which is fine, but it feels that it needs to increase a little bit more. Either way, we do have some bullish signs around, and several resistances that could work as targets for us. Also, we have an open gap around $ 31.34, which might work as a magnet in the next few weeks.

Let’s follow PLTR closely, and if you liked this analysis, remember to support it! And follow me to keep in touch with my daily updates.

Thank you very much.
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Comments

These PLTR "ideas" giving me shivers for the last 3 months .... /:)
+1 Reply
@Tihobuf0, Patience is the key here, my friend!
+1 Reply
Tihobuf0 Nathan_Black
@Nathan_Black, Eu conheço meu amigo, Deus te abençoe;)
+1 Reply
foxbelex Tihobuf0
@Tihobuf0,

é isso ai, muito cuidado mesmo com essa ação...também já perdi bastante com ela! Saudações de Campinas
+1 Reply
@foxbelex, @Tihobuf0, PLTR caiu mais por causa de um sell-off sistêmico do que por qualquer outra coisa. É uma empresa de qualidade, e sabendo disso, podem ficar tranquilos. O mercado recompensa quem é paciente (desde que seja uma ação boa).

A propósito, Fox, estamos apenas a duas hrs de distância um do outro. ;)
Reply
Tihobuf0 Nathan_Black
@Nathan_Black, no worries I can wait even few years... the tech behind this company has no limits... if its good for Cathy Woods its good for me ;)
+1 Reply
nice analysis, as always...and I think that this time it could really be a reversal,
although I'd like to see first a retest of the bottom with a higher low to confirm
the trend reversal...and then hop in again
+1 Reply
@foxbelex, Yep, this could give another chance for people to buy it for sure. Some stocks like PLTR would benefit from this movement, but let's see how they will behave in the next few days.

I appreciate your support, Fox! Take care, mate!
Reply
foxbelex Nathan_Black
@Nathan_Black,

you are welcome and by the way in my humble opinion you are one of the best technical analysts out there
and really deserve support for your great work!
+2 Reply
gmanel foxbelex
@foxbelex, +1
+2 Reply