PLTR in-depth technical analysis for tomorrow 9/17/2024
Price Action Overview:
Recent Trend: PLTR has been in a strong uptrend recently, with a breakout above $34 and making new highs at $36.91. This breakout seems to have been supported by higher trading volume, indicating strength in the move.
Current Price: PLTR is trading at $36.35, slightly below its intraday high. It is consolidating near this level, which suggests that it could be forming a base for the next move.
Support Levels:
Immediate Support: $36.00 (previous swing high and a key psychological level).
Stronger Support: $34.91, which also coincides with a high-volume node on the Volume Profile. Below that, the $34.50 area shows strong support from past price action and volume consolidation.
Resistance Levels:
Immediate Resistance: $36.91 (recent high), and if broken, PLTR could target the next psychological level of $37 and beyond.
Potential Breakout Target: If PLTR can break above $36.91 with strong momentum, it could see a continuation rally toward $38.
Indicators:
Moving Averages (MAs): The price is well above both short-term and long-term moving averages (notably the 50-period MA), which confirms the strength of the uptrend.
Volume Profile: The visible range volume profile indicates that most of the recent volume has been traded between $34.50 and $36.00, making this a strong support zone in case of a pullback.
Prediction and Strategy:
Bullish Case: If PLTR holds above $36.00 and breaks through the $36.91 resistance, a rally toward $37.50 or $38 is highly probable. Momentum traders will likely enter at the breakout.
Bearish Case: In case PLTR faces rejection around $36.91 and falls below $36.00, it might pull back to test the $34.91 support level. This could present a buying opportunity for dip buyers.
Conclusion:
For tomorrow’s session, watch for a break of $36.91 for further upside. If PLTR consolidates around $36.00 or drops, it could bounce around the $34.91 support level before making its next move. Keep an eye on volume and market sentiment to gauge whether the stock will push through resistance or retrace to find stronger support.
Recent Trend: PLTR has been in a strong uptrend recently, with a breakout above $34 and making new highs at $36.91. This breakout seems to have been supported by higher trading volume, indicating strength in the move.
Current Price: PLTR is trading at $36.35, slightly below its intraday high. It is consolidating near this level, which suggests that it could be forming a base for the next move.
Support Levels:
Immediate Support: $36.00 (previous swing high and a key psychological level).
Stronger Support: $34.91, which also coincides with a high-volume node on the Volume Profile. Below that, the $34.50 area shows strong support from past price action and volume consolidation.
Resistance Levels:
Immediate Resistance: $36.91 (recent high), and if broken, PLTR could target the next psychological level of $37 and beyond.
Potential Breakout Target: If PLTR can break above $36.91 with strong momentum, it could see a continuation rally toward $38.
Indicators:
Moving Averages (MAs): The price is well above both short-term and long-term moving averages (notably the 50-period MA), which confirms the strength of the uptrend.
Volume Profile: The visible range volume profile indicates that most of the recent volume has been traded between $34.50 and $36.00, making this a strong support zone in case of a pullback.
Prediction and Strategy:
Bullish Case: If PLTR holds above $36.00 and breaks through the $36.91 resistance, a rally toward $37.50 or $38 is highly probable. Momentum traders will likely enter at the breakout.
Bearish Case: In case PLTR faces rejection around $36.91 and falls below $36.00, it might pull back to test the $34.91 support level. This could present a buying opportunity for dip buyers.
Conclusion:
For tomorrow’s session, watch for a break of $36.91 for further upside. If PLTR consolidates around $36.00 or drops, it could bounce around the $34.91 support level before making its next move. Keep an eye on volume and market sentiment to gauge whether the stock will push through resistance or retrace to find stronger support.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.