PLTR Technical Analysis October 9, 2024

Price Action:

Current Price: $41.65, with a high at $42.12.
Trend: PLTR is in a strong bullish trend, having recently broken above the key resistance at $40.29. It has been making higher highs and higher lows.

Key Levels:

Support:
Immediate support at $40.29 (previous resistance turned support).
Lower support at $38.89 where the price consolidated before the recent breakout.

Resistance:
Immediate resistance at $42.12, which is the recent high.
Further resistance can be expected near $43, a psychological level and potential next target for bulls.

Indicators:
MACD: Showing bullish momentum, with the MACD line moving above the signal line, confirming the upward trend.

Trading Plan:
For Bulls: A continuation above $42.12 could target the $43 level or higher. Consider entries on pullbacks near the $40.29 support, with stops below $40.

For Bears: A rejection from $42.12 or a break below $40.29 could lead to a retracement towards the $38.89 support zone.

Outlook for Tomorrow:
Bullish Bias: PLTR's bullish momentum could continue as long as it holds above the $40.29 support level. A break above $42.12 would confirm further upside potential.

Disclaimer:
This analysis is based on technical data and is not financial advice. Please conduct your own research and consider risk management when trading.