Hello traders and investors! Let’s see how PLTR is doing today!
I have 3 key points for you. First, the $ 20.18. This is a strong resistance, which PLTR failed to break before the recent drop. This is the most important point for a mid-term reversal.
Second, we have a short-term congestion, and its bottom level is the $ 18.52. If PLTR drops below this point, it’ll resume the bear trend and seek the next support levels, like the $ 17.
Last, we have a micro pivot point at $ 19.46, which if defeated, could make PLTR retest the $ 20.18, and then, the fight will be intense.
In the daily chart, PLTR looks quite pessimistic, but the reaction seen on Tuesday might bring something new for us. The volume was great, but as promising as this sounds, we are still in a bear trend in short/mid-term, and no reversal sign yet.
Let’s just keep our eyes on the $ 20.18, as this is the most important key point to watch. If you liked this analysis, remember to follow me to keep in touch with my studies, and please, support this idea if it helped you!
Super analysis. I used pitchfork trading techniques and sort of concluded the same. $20.15/.19 is a strong resistance. As of 14.May 45 mins before close, the price has reached both the resistance and pitchform median.
turolin
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Great analysis again @Nathan_Black ! Keep going!
In my opinion, PLTR goes to $ 17, and then $ 15, but let's see. Personally, I would buy more shares between $ 13.5 and $ 14.5.
PLTR is a good company, but ARK Invest continues to play with it.
Declutter69
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Nathan , can help to advise on Huya ? Look like a free falling with no bottom in sight . A financially sound business but price keeps dropping .
Tihobuf0
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Hey Nat, any prediction for December 2021 ... still holding with the loss of 6k :( ... Same with INTEL, NANO DIMENSIONS nightmare
Nathan_Black
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@Tihobuf0, For December? Sorry, my friend, but I have no clue. Don't know what will happen tomorrow, imagine in December!
But be careful, as nobody can "predict" anything, ok? True trading/investing means you do what makes sense right now. Trading is reactive, not predictive.
Cheers, mate!
Tihobuf0
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@Nathan_Black, thanks I will keep at least to break even ;)
soapandy90
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If all these supports and resistance created along with the overall price trend which is mainly driven by market sentiment and portfolio reallocation. What’s the point of monitoring these support and resistance every day?