PLTR Triangle Pattern Breakout: Part 2

23 Des 2020

PLTR triangle pattern has now broken out on the bull side. Ichimoku lagging indicator (white) is on the bullish side, as well as a bullish moving average crossover (blue over the red line). The initial breakout didn't have positive indicators so no trade was placed until now. Huge thick ichimoku clouds and bull trend line to provide plenty of support as it moves along the regression channel. RSI shows no sign of a trend reversal coming up.

Playing ITM calls up to 33.5. Ichimoku cloud stops supporting around 21-22 for stop loss. Break to the price gap around 23 possible but likely temporary.

4 Jan 2021

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Unfortunately the bears pushed back against the breakout and the price has dipped deep into the cloud.