PLTR at a Decision Point – Will It Defend or Break Lower? Jun 23

PLTR at a Decision Point – Will It Defend This Channel or Break Lower?

🔹 Options Sentiment (GEX) Overview:
* Current Price: $137.30
* Gamma Flip Zone: $140.00 (HVL, short-term battleground)
* Call Walls:
* $143.00 (2nd Call Wall)
* $150.00–$152.5 (3rd Call Wall + GEX resistance zone)
* Put Walls:
* $136.00 → minor defense
* $130.00 → strongest Put Support (-45% GEX floor)
* GEX Bias: 📉 Bearish leaning
* GEX: 🔴
* IVR: 20.3 (very low)
* IVx: 64.8 (dropping -4.49%)
* CALLs: 39.9% → PUTs dominant
🧠 Interpretation: GEX is suggesting downside pressure below $140. If bulls can’t reclaim it soon, momentum could shift fast toward $136 → $130 support.

📈 Price Action (1H Intraday - SMC Insight):

* Current Structure:
* Multiple CHoCH (Change of Character) pointing to weakness
* Price broke below the ascending trendline
* Forming a local bearish block beneath $140
* PDH/Resistance: $144.86
* Support:
* $137.42 (short-term)
* $136.08 (SMC support + GEX alignment)
📉 Market Structure Bias: Bearish short-term unless it reclaims the $140 zone and breaks the descending micro-structure.

🎯 Trade Setup Ideas
🔻 Bearish Scenario (If weakness continues):
* Entry: Below $137.20
* Target: $136.08 → $133 → $130
* Stop: $140.00 reclaim
* Confluence: CHoCH + GEX Put Wall magnet + failed trendline defense
🔼 Bullish Reversal Scenario (Only on reclaim):
* Entry: Break & hold above $140.00
* Target: $143 → $144.86 → $150
* Stop: Breakdown back below $139
* Confluence: GEX Flip + Channel re-entry + Institutional Call Wall targets

🔍 Final Thoughts
PLTR is sitting near a critical decision level around $137–$140. Options sentiment (GEX) shows dominant PUT flow and a bear bias below $140, while price action is showing early signs of structure breakdown. If bulls cannot recover $140 early in the week, we could see a slow grind toward the $130 PUT Support zone. Use caution near the $136–$137 liquidity pocket — it's a key short-term decision area.

This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage risk appropriately.