Probably one of the meme stocks with actual potential.
Palantir is a widely popular stock made famous on social media such as TikTok, Reddit, and forums.
Major support has been established at 18.60 with resistance at 30.00. This huge range makes up the consolidation area where supplies and demand battle out.
There was a sign of supply exhaustion on 26 Apr 21 at 23.50.
Given that the current price is already at 27.30, it is too close to the resistance at 30.00. Hence it is not worth the risk to chase.
Waiting for the price to fall back lower to 23.50 might be a better option.
Verdict: Slightly Bullish but wait for a lower price.
Palantir is a widely popular stock made famous on social media such as TikTok, Reddit, and forums.
Major support has been established at 18.60 with resistance at 30.00. This huge range makes up the consolidation area where supplies and demand battle out.
There was a sign of supply exhaustion on 26 Apr 21 at 23.50.
Given that the current price is already at 27.30, it is too close to the resistance at 30.00. Hence it is not worth the risk to chase.
Waiting for the price to fall back lower to 23.50 might be a better option.
Verdict: Slightly Bullish but wait for a lower price.