PLTR: Giving us a Technical Analysis class!

٢٢ فبراير ٢٠٢١

Hello traders and investors! Let’s talk about PTR today! We have multiple technical points to discuss here.

First, in the 1h chart we have a classic Inverted Head and Shoulders chart pattern, which is usually a reversal sign. The Pivot Point is at $ 30.18. Now, it is doing a pullback to the 21 ema, and we’ll see how it’ll behave from now on.

What’s more, we had another classic chart pattern called Island Reversal, which is usually a strong sign, as long as it is not frustrated. Now, let’s see the daily chart:



In the daily chart we have a classic candlestick pattern called Morning Star, which is interesting. Every Morning Star is at the same time an Island Reversal pattern in smaller time frames.

The volume increased a lot in the past few days, but the problem is that right now the stock just found a resistance at the 21 ema, which can make things difficult for PLTR. In fact, in the daily chart, it barely hit the 21 ema and now it is doing this Dark Cloud Cover candlestick pattern.

Let’s proceed carefully on PLTR, as we have bullish and bearish patterns, the question is, which side do you think will prevail? The bulls or the bears?

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