Hello traders and investors! Let’s see how PLTR is doing today! Let’s do a complete Multiple Time Frame Analysis (MTFA) on it.
First, in the 1h chart, PLTR triggered the H&S chart pattern that made it drop to the support at $ 22.35 (red line). This movement was quite bearish, but there are some interesting points to keep in mind.
It has two open gaps, both are breakaway gaps, as they break the support levels made by the thin purple lines by doing a gap, not by opening above the support and breaking them intra-day. This shows that the bearish trend here is strong.
Now we just hit the support at $ 22.35 and we have a bullish pivot point at $ 23.39. If PLTR defeats this point, it will defeat the 21 ema too, and it might work as a mid-term reversal seen in the daily chart:
The $ 22.35 is even more interesting now, because it is the 50% Fibonacci’s Retracement in the daily chart, and if PLTR triggers the pivot point seen in the 1h chart, it’ll confirm this dual-support level and we’ll bounce back up in the mid-term.
Given we have many open gaps in the 1h chart, we can assume that PLTR will be attracted by them in the mid-term, and it’ll do a rally to close them. But there’s more:
In the weekly chart, we already defeated the 21 ema, and the last 2 weeks were bearish, but the volume was quite low, indicating that this is not a true bearish reaction.
We just found the 21 ema again, and it is working as a support for us, making it not a dual-support level, but a Triple Support level (red line 1h, 50% retracement daily, and 21 ema weekly).
The $ 27.47 is the target in the mid-term, but honestly, I’m aiming for the gap at $ 31.34. Since me and my followers bought PLTR at the dip around $ 20, we are just fine, and I see this pullback as another opportunity to buy.
We’ll see how PLTR will behave in the next few weeks. Remember to follow me to keep in touch with my daily studies, and support this idea if this insight was interesting to you.
Thank you very much,
Have a great weekend!
First, in the 1h chart, PLTR triggered the H&S chart pattern that made it drop to the support at $ 22.35 (red line). This movement was quite bearish, but there are some interesting points to keep in mind.
It has two open gaps, both are breakaway gaps, as they break the support levels made by the thin purple lines by doing a gap, not by opening above the support and breaking them intra-day. This shows that the bearish trend here is strong.
Now we just hit the support at $ 22.35 and we have a bullish pivot point at $ 23.39. If PLTR defeats this point, it will defeat the 21 ema too, and it might work as a mid-term reversal seen in the daily chart:
The $ 22.35 is even more interesting now, because it is the 50% Fibonacci’s Retracement in the daily chart, and if PLTR triggers the pivot point seen in the 1h chart, it’ll confirm this dual-support level and we’ll bounce back up in the mid-term.
Given we have many open gaps in the 1h chart, we can assume that PLTR will be attracted by them in the mid-term, and it’ll do a rally to close them. But there’s more:
In the weekly chart, we already defeated the 21 ema, and the last 2 weeks were bearish, but the volume was quite low, indicating that this is not a true bearish reaction.
We just found the 21 ema again, and it is working as a support for us, making it not a dual-support level, but a Triple Support level (red line 1h, 50% retracement daily, and 21 ema weekly).
The $ 27.47 is the target in the mid-term, but honestly, I’m aiming for the gap at $ 31.34. Since me and my followers bought PLTR at the dip around $ 20, we are just fine, and I see this pullback as another opportunity to buy.
We’ll see how PLTR will behave in the next few weeks. Remember to follow me to keep in touch with my daily studies, and support this idea if this insight was interesting to you.
Thank you very much,
Have a great weekend!
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👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.
