I warned you about the 27.01! 😱
The situation is quite simple on PLTR today! We are dropping, just as we expected, because it lost the 27.01 that we talked about yesterday, and now PLTR is looking for support areas to hold itself.
No, it won’t drop forever, and it’ll recover at some point, the question is, which point?
We have a pivot at 26.45, if triggered, I don’t think the 26.26 will hold it, and we’ll drop more – but not much more.
We are still a little overbought in the 4h chart, and if PLTR drops to its red line again, it’ll be great.
The situation is more serious in the daily chart, tho. We have a bearish engulfing that could make PLTR drop to the 25s again. The RSI is overbought here too. We must be careful.
We must watch the pivot in the 30min, as it’ll tell us if PLTR will turn bearish for now, or not. If it turns bearish, we’ll look at the 25 – 26 area, as it might be a chance to buy! PLTR is moving according to our plans, for now!
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
No, it won’t drop forever, and it’ll recover at some point, the question is, which point?
We have a pivot at 26.45, if triggered, I don’t think the 26.26 will hold it, and we’ll drop more – but not much more.
We are still a little overbought in the 4h chart, and if PLTR drops to its red line again, it’ll be great.
The situation is more serious in the daily chart, tho. We have a bearish engulfing that could make PLTR drop to the 25s again. The RSI is overbought here too. We must be careful.
We must watch the pivot in the 30min, as it’ll tell us if PLTR will turn bearish for now, or not. If it turns bearish, we’ll look at the 25 – 26 area, as it might be a chance to buy! PLTR is moving according to our plans, for now!
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.