Hello traders and investors! Let’s see how PLTR is doing today! We had a Red Monday yesterday, and PLTR crashed along with the rest of the market. Now, what’s for us here?
First, let’s keep in mind that PLTR just filled its gap at $ 23.19, and now we have the beginning of a bullish reaction. This candlestick pattern could be a Harami, which is not the best reversal pattern, I agree, but since it is near such a good support level, the odds of a reversal increases dramatically.
In addition, PLTR has been dropping since Sep 24, but the volume was below the average. This is another sign that PLTR has been dropping just because it has been following the market. We still don’t see any meaningful bearish structure that could sustain this drop for too long.
In fact, there’s a good chance that we just hit the bottom for now. What we must see is a clearer bullish structure in the 1h chart:
If PLTR closes above the previous support level at $ 23.67, it’ll be a good sign, but what we really must see is a bullish structure. So far, PLTR has been doing lower highs/lows, and as Dow would say: Trends persist until a clear reversal occurs.
This week is going to be decisive on PLTR, and if you liked this analysis, remember to follow me to keep in touch with my daily updates.
Have a good day!
First, let’s keep in mind that PLTR just filled its gap at $ 23.19, and now we have the beginning of a bullish reaction. This candlestick pattern could be a Harami, which is not the best reversal pattern, I agree, but since it is near such a good support level, the odds of a reversal increases dramatically.
In addition, PLTR has been dropping since Sep 24, but the volume was below the average. This is another sign that PLTR has been dropping just because it has been following the market. We still don’t see any meaningful bearish structure that could sustain this drop for too long.
In fact, there’s a good chance that we just hit the bottom for now. What we must see is a clearer bullish structure in the 1h chart:
If PLTR closes above the previous support level at $ 23.67, it’ll be a good sign, but what we really must see is a bullish structure. So far, PLTR has been doing lower highs/lows, and as Dow would say: Trends persist until a clear reversal occurs.
This week is going to be decisive on PLTR, and if you liked this analysis, remember to follow me to keep in touch with my daily updates.
Have a good day!
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