PLTR Ready for a Massive Breakout!
Palantir Technologies (PLTR) has been steadily climbing within an ascending channel, and we are now approaching a key breakout level. The stock has been showing strong momentum, with higher highs and higher lows forming a bullish structure.
🔍 Technical Analysis:
✅ Trend: PLTR has been riding the upper trendline of the ascending channel. If it breaks above, we could see an explosive move.
✅ Volume: Increasing volume indicates strong buyer interest, suggesting accumulation before a breakout.
✅ Indicators: The momentum oscillator is reaching bullish territory, aligning with the breakout thesis.
✅ Support Levels: Holding above $100 is crucial, with strong support around $93.
✅ Resistance: Key breakout zone sits around $120-$125—once cleared, PLTR could skyrocket.
📈 My Trading Plan:
🎯 Target: $140+ in the next few weeks.
🛑 Stop-Loss: Below $100 to protect against downside risk.
🔄 Strategy: Waiting for confirmation above $120 with strong volume before entering.
💡 Conclusion: The risk-reward ratio looks favorable here, and all signs point to PLTR making a big move. A confirmed breakout could open the gates to new highs! 🚀🔥
🔍 Technical Analysis:
✅ Trend: PLTR has been riding the upper trendline of the ascending channel. If it breaks above, we could see an explosive move.
✅ Volume: Increasing volume indicates strong buyer interest, suggesting accumulation before a breakout.
✅ Indicators: The momentum oscillator is reaching bullish territory, aligning with the breakout thesis.
✅ Support Levels: Holding above $100 is crucial, with strong support around $93.
✅ Resistance: Key breakout zone sits around $120-$125—once cleared, PLTR could skyrocket.
📈 My Trading Plan:
🎯 Target: $140+ in the next few weeks.
🛑 Stop-Loss: Below $100 to protect against downside risk.
🔄 Strategy: Waiting for confirmation above $120 with strong volume before entering.
💡 Conclusion: The risk-reward ratio looks favorable here, and all signs point to PLTR making a big move. A confirmed breakout could open the gates to new highs! 🚀🔥
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.
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.