PLTR: Good reaction above a support level.

Hello traders and investors! Our PLTR has been doing some interesting movements in the past few days. Let’s see what’s going on.

First, in the 1h chart, PLTR defeated the $ 20.18 area, which we mentioned in our last study. This was the most important point for us, and it is worth noticing how it struggled in defeating it on May 17. If you missed our last study, the link is below, as usual.

Now, PLTR is in a short-term bull trend, and it is trading above the $ 20.18. Coincidence or not, when it crashed today, it dropped to this area again, before it reacted. This reinforces our main idea.

Now, the daily chart:


In the daily chart, the trend is not bullish yet, or at least it is not a clear one. As long as it keeps under the 21 ema, the situation will still be a little bearish. However, I like how the volume is looking.

If PLTR keeps above its support levels in the 1h chart, it has good chances of defeating the 21 ema in the daily chart, and reverse the trend for good.

We’ll see how it’ll play in the next few days. Meanwhile, if you liked this analysis, remember to follow me to keep in touch with our daily studies, and support this idea if it helped!

Thank you very much!