Naked Chart Trading: PLTR 7 Jun 2024

PLTR is still testing rebound between 38.2% to 50% (USD20 - USD28 level) of Fibo from Jan 2021 high to Jan 2023 low. Bad news is the momentum is lack of buying power support so I do not see a strong rebound even this company is backed by AI development theme.

But good news are, the trend is forming higher highs & lows and the range move from 23.6% - 38.2% to 38.2% - 50%, hint that there is potential for the trend to test 61.8% USD30 level. Resistance levels are USD24, USD25.50, USD27.50 and USD30.

Support levels are USD23, USD22 and USD21.

Disclaimer
This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.