$Palantir Technologies Inc.(PLTR)$
πβ¨ PLTR: 3-10 Day Swing Setup β¨π
I'll be watching OpenMarket closely to identify an ideal entry point for this setup, as the first hour of Open market. often reveal critical cues for short-term direction.
PLTR is currently trading at $76.44 02Jan25 NZ time π³πΏ in the overnight market, showing resilience and aligning with a textbook ascending channel pattern. This setup is primed for a bullish breakout, offering a compelling opportunity for swing traders.
Resistance Ahead: The immediate target lies at $85.00 to $87.50, with a breakout here paving the way to test $90.00 and beyond.
PLTR finds support from accumulated volume at $72.46 and this level holds a buying opportunity as an upwards reaction can be expected when the support is being tested.
The Swing Setup:
β’ Entry Point: A confirmed hold above $75.00 presents a high-probability entry for swing traders.
β’ Stop-Loss: Tight stop below $74.00 to protect against downside risk.
β’ Profit Targets: Charted
Market Context:
PLTR continues to benefit from positive sentiment in the tech sector, alongside strengthening capital flows into high-growth equities. Overnight trading at $76.60 reinforces the bullish case, with the stock poised to climb further within the 3-10 day timeframe.
This setup is a classic swing trade opportunity, blending technical precision with strong momentum cues. Keep an eye on volume and broader market sentiment to confirm the next move.
Happy trading ahead, cheers BC πππ
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