PLTR: Bullish signs at different time frames!
Hello traders and investors! Let’s study PLTR today!
It seems we have a Symmetrical Triangle chart pattern on PLTR, hourly chart, and most of the time, this is a continuation pattern, meaning, the odds favor the bulls here.
But more important than the Triangle, is the support at the pink line, as if PLTR loses it, it could drop to $ 23, or even $ 21 again. It wouldn’t be easy, but it is a remote possibility. The most frustrating scenario for the short-term would be if PLTR does a sideways breakout of this Triangle, because it would ruin the pattern, and PLTR would have no clear short-term trend.
But even so, the odds favor the bulls, especially if we look at the daily chart:
The Triangle pattern in the hourly chart is a Pennant chart pattern in the daily chart, and the volume decreased during the Pennant, which is a clear indicator that we have no sell-off here, but people waiting for a pullback to buy it at a cheaper price.
I find it very hard for PLTR to retest the Morning Star’s low, but if it loses the pink line, it could retest the 21 ema, and this would be a great opportunity.
Let’s follow PLTR closely from now on and remember to follow me to keep in touch with my studies! And please, support this idea if you liked it!
Thank you very much.
It seems we have a Symmetrical Triangle chart pattern on PLTR, hourly chart, and most of the time, this is a continuation pattern, meaning, the odds favor the bulls here.
But more important than the Triangle, is the support at the pink line, as if PLTR loses it, it could drop to $ 23, or even $ 21 again. It wouldn’t be easy, but it is a remote possibility. The most frustrating scenario for the short-term would be if PLTR does a sideways breakout of this Triangle, because it would ruin the pattern, and PLTR would have no clear short-term trend.
But even so, the odds favor the bulls, especially if we look at the daily chart:
The Triangle pattern in the hourly chart is a Pennant chart pattern in the daily chart, and the volume decreased during the Pennant, which is a clear indicator that we have no sell-off here, but people waiting for a pullback to buy it at a cheaper price.
I find it very hard for PLTR to retest the Morning Star’s low, but if it loses the pink line, it could retest the 21 ema, and this would be a great opportunity.
Let’s follow PLTR closely from now on and remember to follow me to keep in touch with my studies! And please, support this idea if you liked it!
Thank you very much.
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