PLTR Setting Up for a Bounce – Sept 18 Game Plan

Here’s my fresh read on Palantir for Wednesday’s session, using the 1-hour chart and current GEX data.

1️⃣ Price Action & Structure
* Quick recovery: PLTR found solid demand near $163 and pushed back toward the $170 zone, right where a descending trendline and prior supply meet.
* First ceiling: Immediate resistance sits at $170–171.2. An hourly close above this range could set up a squeeze toward $172.5–175.
* Support watch: $167.5 and $165 are key downside levels if momentum fades.

2️⃣ GEX (Options Flow) Check
* Balanced flow: Calls make up about 47% of options volume, better than NVDA but not screaming bullish.
* Call walls: Strong clusters at $170 and $172.5 (around 77–85% call concentration) can act as magnets if bulls follow through.
* Put defense: Next meaningful put walls sit at $162.5 and $157.5, giving PLTR a defined floor if pressure returns.

3️⃣ Trading Thoughts
* Bullish plan: Consider a starter long on an hourly close over $171.2, aiming for $172.5 and possibly $175. Stop under $167.5.
* Bearish plan: If price rejects $170 and slips below $167.5, a move back to $163 is likely, with $160 as a deeper target.

4️⃣ Option Angles
* Upside play: Short-dated call spreads (170/175) offer defined risk for a breakout.
* Neutral to cautious: Selling puts around $160 can work if you believe the $162.5 gamma wall will hold.

5️⃣ My View
Palantir is showing early strength after a healthy shakeout. If it can firmly retake $170 with volume, bulls have a clean shot to reclaim the mid-$170s. I’ll wait for that hourly confirmation before committing.

Disclaimer: This analysis is for educational discussion only and is not financial advice. Always do your own research and manage risk before trading.