Hello I am the Cafe Trader.
Price Action suggest we haven't had a proper buyer since $90.
Now I know that this can sound a bit off putting (especially if you bought above $90).
Even if this crashed, I am not suggesting you sell your long term position. I would instead look into hedging your position, giving yourself some exposure to the downside.
Consider these 2 non-biased reasons before writing me off.
Point 1
Price action suggests we have been in a short squeeze since April. Although in the short term I do see current retail buyers taking this to 169.
Point 2
If we do not land new Strong Buyer (someone that can support the price) all of this squeeze will come crashing back down to where they can support the price.
Conclusion
If we close below 152.50 on the day, this would suggest that bears have or are in control. This would expose many to tons of risk.
Here are my long Term prices for PLTR
Aggressive = 120
Fair = 107.50 - 108.50
Good = 89
Steal = 71-74.50
That's all for PLTR take a look at my other articles if you are interested in more!
Happy Trading!
thecafetrader
Price Action suggest we haven't had a proper buyer since $90.
Now I know that this can sound a bit off putting (especially if you bought above $90).
Even if this crashed, I am not suggesting you sell your long term position. I would instead look into hedging your position, giving yourself some exposure to the downside.
Consider these 2 non-biased reasons before writing me off.
Point 1
Price action suggests we have been in a short squeeze since April. Although in the short term I do see current retail buyers taking this to 169.
Point 2
If we do not land new Strong Buyer (someone that can support the price) all of this squeeze will come crashing back down to where they can support the price.
Conclusion
If we close below 152.50 on the day, this would suggest that bears have or are in control. This would expose many to tons of risk.
Here are my long Term prices for PLTR
Aggressive = 120
Fair = 107.50 - 108.50
Good = 89
Steal = 71-74.50
That's all for PLTR take a look at my other articles if you are interested in more!
Happy Trading!
thecafetrader
Note
This closed below the Light demand, I don't really see another level until Strong retail. I am considering swinging some puts, but with the recent volatility i'm not sure I will get a good enough price. If we happen to get something though I will post it here also on X. Order cancelled
We have a new institutional buyer as of last week. I will draw new lines for PLTR. This is really strong, and next week's close will give us an idea of just how strong they are
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.