Palantir Technologies ( PLTR ) is the november stock that made everyone rich (except me).
But i got something for you: there is a decent chance for another pump towards our previous high.
So we might be able to lock in another 20%-30% profit (if just buy the stonk :-)).
PLEASE BE CAREFUL: We can see a divergence with the price action and the / ,
which means that the price has been moving up, but many people obviously took some profit
(or simply switched over to GME ). A STOP LOSS IS MANDATORY IF YOU TRADE THIS STOCK!
Everything is explained on the chart. Here are some levels that might be important for you
- Enter below $27.50
- Place your Stop Loss $23.60
- Target $33.00 and secure your first profits
This is not a financial advice.
cheers fellow autists
But for now, you're fine. Keep your eyes on the market and even if your Stop gets triggered - there are many other great opportunities here.
Always look for a horizontal supports/resistances to verify important levels in case of strong moves like a sudden pump or a heavy sell.
The price tends to bounce of these levels and establish a new trend OR the price breaks through the level (which results in evaluating a new idea).
What you talking about is most likely the trendline that also forms the broadening structure.
You usually look for as many confirmation points as possible when you draw a trendline. My trendline had only 2 confirmation points and was kinda inaccurate but
acted as a resistance again right before the market closed.
Conclusion: write as many trendlines as you can and consider each levels. I only use a few trendlines on the chart above for the aesthetics.
The more important level now is the horizontal support.