Nathan_Black

PLTR: A very Technical Bullish Thesis.

NYSE:PLTR   Palantir Technologies Inc
Hello traders and investors! Let’s see how PLTR is doing today! This is an analysis, but we’ll have a lot of educational content as well, because PLTR has many patterns to talk about.

First, in the 1h chart, it seems we’ll reverse the short-term bear trend, as PLTR is doing a new high today, above the $ 21.70. This breaks the status quo, and it is something we haven't seen since the beginning of this bear trend, which started when PLTR triggered the Head and Shoulders chart pattern this month. This might be the start of something new.

If it reverses, we might use the Breakaway Gaps to guide us next. Remember: Gaps work as magnets. They are breakaway gaps because they are losing their support levels (purple lines). Keep in mind that we have 4 types of gaps: Breakaway, runaway, common and exhaustion.

There’s the idea of a Rounded Bottom pattern, as evidenced by the red line, and I find this pattern particularly hard to trade. It seems we can never tell if it is a true Round Bottom or not until we are already close to the target, which is the $ 23.39, in this case.


It is not perfect, but it has a Piercing Line pattern in the daily chart , as evidenced by the yellow square. A Piercing Line occurs when the price opens in a gap, below the previous day’s low, closes near its high, and covers at least halfway of the previous bearish candlestick’s body.

What’s more, this pattern appeared just above the 61.8% Fibonacci’s Retracement.

All of this creates an interesting and technical bullish thesis for PLTR for the next few days.

What makes the situation more risky: The low volume in the daily chart , and the lack of bullish structure in the 1h chart (higher highs/lows). This makes me wonder if it’s too soon for PLTR , but the Risk/Reward ratio is good at this level. Either way, always use a good risk-management that suits your needs.

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Thank you very much!

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