PLTR: Could it fly to the All-Time High again? Complete MTFA.
Hello traders and investors! Let’s see how PLTR is doing today, and do a complete Multi Time Frame Analysis (MTFA) looking at the 1h, D and W charts.
In the 1h chart, we have a strong bearish candlestick, and PLTR lost the 21 ema and it hit the 61.8% Fibonacci’s Retracement.If it confirms any bullish pattern, it could be an opportunity to buy, in my view, but so far, we have nothing interesting for the short-term.
The problem is that PLTR has been in a congestion since its earnings, but since we have a support level at $ 23.67, I don’t see PLTR reversing or engaging in a bear trend.
In the daily chart, we have a trendline connecting the previous bottoms, and despite the congestion after earnings, the bias is still bullish in the mid-term.
We are above the 21 ema (which is pointing up, btw), the volume is good, and we have no bearish structure around. Maybe this sideways correction will make the 21 ema catch up with the price, and this is ok.
In the weekly chart, we still have the idea of an Ignition Bar followed by a Gift pattern. If triggered, these patterns can trigger the pivot point in the weekly chart, at $ 27.47, and make PLTR fly to the ATH again. Given the fact we are in a bull trend in the mid-term,a nd we have no bearish structure around, this is a plausible scenario, but it is going to take a few months to materialize.
Let’s follow it closely from now. If you liked this idea, remember to follow me to keep in touch with my daily updates.
Have a good day.
In the 1h chart, we have a strong bearish candlestick, and PLTR lost the 21 ema and it hit the 61.8% Fibonacci’s Retracement.If it confirms any bullish pattern, it could be an opportunity to buy, in my view, but so far, we have nothing interesting for the short-term.
The problem is that PLTR has been in a congestion since its earnings, but since we have a support level at $ 23.67, I don’t see PLTR reversing or engaging in a bear trend.
In the daily chart, we have a trendline connecting the previous bottoms, and despite the congestion after earnings, the bias is still bullish in the mid-term.
We are above the 21 ema (which is pointing up, btw), the volume is good, and we have no bearish structure around. Maybe this sideways correction will make the 21 ema catch up with the price, and this is ok.
In the weekly chart, we still have the idea of an Ignition Bar followed by a Gift pattern. If triggered, these patterns can trigger the pivot point in the weekly chart, at $ 27.47, and make PLTR fly to the ATH again. Given the fact we are in a bull trend in the mid-term,a nd we have no bearish structure around, this is a plausible scenario, but it is going to take a few months to materialize.
Let’s follow it closely from now. If you liked this idea, remember to follow me to keep in touch with my daily updates.
Have a good day.
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💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
