First, in the 1h chart, we have a slow movement, but definitely bullish, as we have higher highs/low, the 21 is pointing up, and we can draw a trendline that is working as a support for us.
We can also draw another trendline connecting some of its tops, creating a channel. If PLTR defeats the black line at $ 24.84, it seems the $ 26.20 is the next target, a dual-resistance level, as it meets the upper trendline and the next top.
Now, let’s see the for a better perspective:
I’m not sure if we can call this a V-shape recovery, as the second leg was too different from the first one. Regardless of the pattern, the $ 24.26 was the first resistance on PLTR .
If it drops again, it might retest the 21 , or even the black line at $ 21.20 and the trend will remain . In fact, if it drops to the $ 21.20 again, and if it does a good pattern around there, we might see an IH&S in the , one of the most powerful reversal patterns in .
We shouldn’t be worried here, as PLTR is a great company. Personally, I bought PLTR in the last pullback we had, and I bought it around the $ 20s (and my group bought it as well). If it drops, let’s not panic, as pullbacks are just opportunities to buy.
The gap at $ 31.54 is a good target to aim, in the mid-term. If you liked this analysis, remember to follow me to keep in touch with my free analysis, and support this idea if it helped you!
Thank you very much!