A reversal on the weekly will in turn provide an entry long
The current downtrend on PLTR has recently been diminishing as bears have been losing selling momentum as the price has been in a consolidation phase for the last couple of weeks since crashing from a high of 21 and losing over 20% in stock valuation since it hit a peak of 21.85 during the week of NOV 2023, which sparked a selloff as numerous insiders began to offload shares of their stock around that price.
If you were to switch over to the daily and four hour timeframe there has been a shift or pivot in price when it had bottomed around 15.50 and 16.50. Since hitting a low of 16s numerous times but successfully being bought around that price range. As we approach earnings release in early FEBUARY the slow accumulation of shares at the current price range above 16.50 to as high as 16.80 is a good sign. It has failed to break low 17s for some time but the expectation of an earnings beat and along with the electronic tech sector and tech sector as a whole receiving boost to their own valuations. The idea of AI being a dominating factor within the Artificial intelligence space is yet to end. As we near the expectation of this company of join the S&P it will be interesting to see the results at the end of this year. Currently the price has failed to fall below 14 before the last two earnings and currently has held its value above 15USD.
We are currently back on trend to the upside if support from buyers continue to prop up the price of PLTR prior to earnings release which in turn could catapult it further if the earnings beat analyst expectations and regular traders flock into the good news to come. 2024-2025 should be a turnaround for this space.
The macd an signal line have crossed and the RSI is below 50 which could spark a rally The monthly candle with enough momentum at the current price before this months end of JANUARY can in fact reverse into a green bodied bullish candle leading into an upside from a technical perspective prior to FEB earnings release. The two consecutive weekly green candles at a support of 16.10 was fantastic to see as the buyers have stepped into this price range.
If you were to switch over to the daily and four hour timeframe there has been a shift or pivot in price when it had bottomed around 15.50 and 16.50. Since hitting a low of 16s numerous times but successfully being bought around that price range. As we approach earnings release in early FEBUARY the slow accumulation of shares at the current price range above 16.50 to as high as 16.80 is a good sign. It has failed to break low 17s for some time but the expectation of an earnings beat and along with the electronic tech sector and tech sector as a whole receiving boost to their own valuations. The idea of AI being a dominating factor within the Artificial intelligence space is yet to end. As we near the expectation of this company of join the S&P it will be interesting to see the results at the end of this year. Currently the price has failed to fall below 14 before the last two earnings and currently has held its value above 15USD.
We are currently back on trend to the upside if support from buyers continue to prop up the price of PLTR prior to earnings release which in turn could catapult it further if the earnings beat analyst expectations and regular traders flock into the good news to come. 2024-2025 should be a turnaround for this space.
The macd an signal line have crossed and the RSI is below 50 which could spark a rally The monthly candle with enough momentum at the current price before this months end of JANUARY can in fact reverse into a green bodied bullish candle leading into an upside from a technical perspective prior to FEB earnings release. The two consecutive weekly green candles at a support of 16.10 was fantastic to see as the buyers have stepped into this price range.
Comment:
no change to previous post, as when the price rocketed to 18 on no news profit was taken and here we are again at the same price range prior to earnings as we await the monthly candle red bearish doji to change there is indirection within the market and awaiting results for tis ai superhouse
infamousnicone