PLTR Technical Analysis for Nov. 1, 2024
Key Levels
Support Levels:
$40.80: This recent low could serve as the nearest support, where buyers may show interest.
$38.03: Further down, this level represents a stronger support if price action sees a steeper decline.
Resistance Levels:
$42.06 - $43.00: This range acts as the immediate resistance zone; breaking through here could signal a stronger bullish move.
$45.06: A key level for medium-term resistance, also aligning with the previous high on the chart.
Price Action and Trends
The current price action shows a downtrend with lower highs and lower lows. However, PLTR has recently seen a slight recovery attempt, with MACD showing a potential crossover, suggesting a possible reversal or bounce.
Entry/Exit Points
Entry: If the price can break and hold above the $42.06 resistance with a surge in volume, it could provide a long entry, with a target towards $43 or higher. Alternatively, if it tests and holds support near $40.80, a long entry may also be considered.
Exit: Look to scale out at $43 and possibly at $45.06 if momentum supports the trade. A break below $40.80 may invalidate a bullish setup.
Additional Thoughts
MACD Crossover: The MACD is showing signs of a potential bullish crossover, which could indicate a short-term upward momentum shift. However, volume confirmation would be crucial for any sustained move.
Volume Analysis: There was a recent increase in sell volume, which may warrant caution. Watch for buy volume to confirm a reversal.
Disclaimer
This analysis is for educational purposes only and should not be considered financial advice. Trading involves risk, and it’s essential to conduct your own research or consult a financial professional.
Support Levels:
$40.80: This recent low could serve as the nearest support, where buyers may show interest.
$38.03: Further down, this level represents a stronger support if price action sees a steeper decline.
Resistance Levels:
$42.06 - $43.00: This range acts as the immediate resistance zone; breaking through here could signal a stronger bullish move.
$45.06: A key level for medium-term resistance, also aligning with the previous high on the chart.
Price Action and Trends
The current price action shows a downtrend with lower highs and lower lows. However, PLTR has recently seen a slight recovery attempt, with MACD showing a potential crossover, suggesting a possible reversal or bounce.
Entry/Exit Points
Entry: If the price can break and hold above the $42.06 resistance with a surge in volume, it could provide a long entry, with a target towards $43 or higher. Alternatively, if it tests and holds support near $40.80, a long entry may also be considered.
Exit: Look to scale out at $43 and possibly at $45.06 if momentum supports the trade. A break below $40.80 may invalidate a bullish setup.
Additional Thoughts
MACD Crossover: The MACD is showing signs of a potential bullish crossover, which could indicate a short-term upward momentum shift. However, volume confirmation would be crucial for any sustained move.
Volume Analysis: There was a recent increase in sell volume, which may warrant caution. Watch for buy volume to confirm a reversal.
Disclaimer
This analysis is for educational purposes only and should not be considered financial advice. Trading involves risk, and it’s essential to conduct your own research or consult a financial professional.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.