Palantir (PLTR) Technical Analysis – Bullish Trend Continuing?

3 days ago

The weekly chart of Palantir Technologies (PLTR) reflects a strong bullish momentum, with price action consistently making higher highs and higher lows. Below is a detailed analysis of the technical indicators and projections:

1. Fibonacci retracements and extensions are plotted to identify potential upside targets. The price has surpassed the key level of 1.414, and higher targets at 4.236, 5.618, and beyond are being tested. These levels serve as speculative zones for future resistance.
2. The 20 Week MA is showing strong upward momentum, confirming a bullish trend. The 50 Week MA and 200 Week MA are far below the current price, indicating sustained momentum over the past months.
   
   
3. A sharp rise in volume during recent rallies suggests strong buying interest, further supporting the bullish outlook.
   
   
4. After a parabolic move in recent weeks, the price is consolidating above key Fibonacci levels, indicating potential continuation of the rally.
   

Risks to Consider
While the bullish trend is strong, traders should remain cautious of potential corrections or pullbacks, especially after such a sharp upward move.

Disclaimer:
I am holding Palantir (PLTR) stock for approximately one year. This analysis is based on personal observations and is not a recommendation to buy or sell. Please conduct your due diligence and consider consulting a financial advisor before making any trading decisions.