We warned about the pullback! But what's next?
As we expected, PLTR corrected, after it reach our purple area, but this drop was pretty weak, as it only hit the 38.2% retracement. But we have a RSI divergence in the 30min, meaning that we might not be prepared for a good bull run yet, and I wouldn't be surprised if it keeps moving sideways tomorrow too. But this doesn't change the bullish idea we have here.
It is interesting that PLTR hit the 20.30 again, and now it is going up again, so, this is a nice support for us. But the 50 and 61.8% retracement at 19.71 - 19.26 is also a good support region, and PLTR could still hit there if Nasdaq drops tomorrow. It could be another chance to buy, in my view.
If PLTR breaks the 21.03 again, it'll start to gain momentum, but we must be careful here, as the markets are pretty volatile. It looks like it wants to break the 22 level, and in this case, the 24 is the next target for us.
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See you soon,
Melissa.
It is interesting that PLTR hit the 20.30 again, and now it is going up again, so, this is a nice support for us. But the 50 and 61.8% retracement at 19.71 - 19.26 is also a good support region, and PLTR could still hit there if Nasdaq drops tomorrow. It could be another chance to buy, in my view.
If PLTR breaks the 21.03 again, it'll start to gain momentum, but we must be careful here, as the markets are pretty volatile. It looks like it wants to break the 22 level, and in this case, the 24 is the next target for us.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
