Long
Bullish pattern established. Targets: $35, $45
Updated
Greetings Investors,
I'm bullish on PLTR , based on the following:
Bullish Factors:
1. Bullish abandoned baby pattern formed on the daily chart, indicating a strong reversal.
2. Price fell below the 20/50 EMA, and quickly recovered, forming solid support around the $25. Price between the 20/50 EMA is a classic buy zone.
3. Bullish RSI divergence on the daily.
4. Extreme bullish demand is evident on the weekly, as the acquisition of shares increased by 880% from the previous week. Wow! This, alone, is enough for me to go LONG.
Weekly Chart:
Strategy
1. Consider the 19 Mar or 16 Apr 35C or 45C.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
I'm bullish on PLTR , based on the following:
Bullish Factors:
1. Bullish abandoned baby pattern formed on the daily chart, indicating a strong reversal.
2. Price fell below the 20/50 EMA, and quickly recovered, forming solid support around the $25. Price between the 20/50 EMA is a classic buy zone.
3. Bullish RSI divergence on the daily.
4. Extreme bullish demand is evident on the weekly, as the acquisition of shares increased by 880% from the previous week. Wow! This, alone, is enough for me to go LONG.
Weekly Chart:
Strategy
1. Consider the 19 Mar or 16 Apr 35C or 45C.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
Note
More investors dumped shares today. I don't like the pullback after forming the abandoned bullish baby pattern Friday. Note
Clearly this pattern failed. I’ll post a new idea soon, based on this week’s candle.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.