PALANTIR - Hammer candle in the weekly!
What is very noticeable is that the price ran in a zone defined by me (back in April) and formed a hammer candle exactly at the level!
I justify it with the fact that the stock is very popular for retailers (in most cases they had their stops at this level). The hammer candle was accompanied by volume, which is also a positive signal.
A short-term close above 27.50 would be important. Then the stock has chances of up to 35 in the next move!
Should the price dip back below 19 and stay there, it would be considered as a negative signal for the chart. Prices below the hammer candle (17.05) activates targets around 13 (EMA 200 W) or even prices up to 8.92.
D1:
H4:
I justify it with the fact that the stock is very popular for retailers (in most cases they had their stops at this level). The hammer candle was accompanied by volume, which is also a positive signal.
A short-term close above 27.50 would be important. Then the stock has chances of up to 35 in the next move!
Should the price dip back below 19 and stay there, it would be considered as a negative signal for the chart. Prices below the hammer candle (17.05) activates targets around 13 (EMA 200 W) or even prices up to 8.92.
D1:
H4:
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