PLTR to $23 soon???

$Palantir Technologies Inc.(PLTR)$ Although it is coming off a disappointing earnings report, based on technical analysis, Palantir is poised to return to about the $23 level, representing an 8.91% increase from current prices (more if you use call options). Here's the reasoning behind my idea:

1. First off, we look at history. As depicted by the drawings, Palantir is at a very crucial and strong level of support. The area that the stock is in right now has constantly proved to be a solid area for the stock to regroup and begin climbing. This was demonstrated today, further solidifying that area as support (see yellow wick). That is a reassuring sign that it will not fall further, as long as no significantly bad news comes out. Additionally, when looking at the chart, you will notice that $23 is a key area; it swaps between support and resistance, depending on which side of $23 the stock price is on. Although there is resistance at $22, if the stock can break above that level, that would be a new line of support above the old one and allow the stock to have a solid base for a move upwards to and beyond $23.

2. The other reason I believe this stock is poised for a move upwards is that if you take a look at the chart, you'll notice that it is right at the top of an order block that has a strong level of volume. Essentially, what this means is that on any move downwards, buyers are going to pounce on it and send it back up; this happened today, as shown by the wick circled in yellow. This is reassuring because the chances of it breaking below the $20.30 zone (where the bottom of the block is) are quite low due to the two reasons explained above.

So, in conclusion, PLTR is in an excellent position for traders to get in and take profit relatively quickly. I see this move occurring within the next two to three weeks and feel that this is an excellent trading opportunity. Thanks to everyone who read this far and good luck trading, I hope you enjoyed!