PLTR 6/28/2024PLTR (Palantir Technologies Inc.), let's break down the technical analysis for both long-term trade and scalping opportunities for tomorrow, Friday, June 28.
Long-Term Trade Analysis
Trend Analysis:
This 4 hrs chart shows a general uptrend in the recent period, with higher highs and higher lows.
The price is currently trading above the 50-period moving average, which is a bullish signal.
Support and Resistance:
Support Levels:
$24.00: Close to the lower trendline and previous support.
$22.38: Marked as a significant low in the chart.
Resistance Levels:
$26.60: Marked as a recent high in the chart.
$27.00: Psychological resistance and previous resistance level.
Indicators:
MACD: The MACD histogram is showing a bullish crossover, indicating upward momentum.
Volume: Volume bars are relatively high, suggesting strong interest in the stock.
Long-Term Trade Strategy
Entry Point:
Consider entering a long position if the price breaks above the $25.32 resistance level with high volume.
Alternatively, wait for a pullback to the $24.00 support level and enter if the price shows signs of bouncing back up.
Exit Point:
Target the $26.60 resistance level for taking partial profits.
If the bullish trend continues, aim for the $27.00 level.
Set a stop-loss below the $24.00 support level to manage risk.
Scalping Strategy
Intraday Levels:
Resistance Levels:
$25.32: Immediate resistance.
$26.00: Psychological level and near-term resistance.
Support Levels:
$24.50: Near-term support.
$24.00: Stronger support level.
Indicators:
Volume Profile: Indicates areas with high trading activity, useful for identifying potential reversal points.
MACD: Can be used for confirming short-term momentum shifts.
Scalping Strategy
Entry Point:
Look for entry opportunities if the price breaks above the $25.32 level with increased volume.
Alternatively, consider entering at the $24.50 support level if there is a strong bounce with confirming volume.
Exit Point:
For quick scalps, aim to exit near the $25.60 to $26.00 range.
Set tight stop-losses below the $24.50 level to minimize losses.
Summary
Long-Term Trade:
Entry: Above $25.32 or on a pullback to $24.00.
Exit: $26.60 or $27.00.
Stop-Loss: Below $24.00.
Scalping:
Entry: Above $25.32 or at $24.50.
Exit: $25.60 to $26.00.
Stop-Loss: Below $24.50.
