Stock Of The Day / 02.20.25 / PLTR

144
02.20.2025 / PLTR #PLTR

Fundamentals. Negative background due to information about the reduction of the US defense budget.

Technical analysis.
Daily chart: Correction on an uptrend.
Aftermarket/Premarket: Gap Down on increased volume. We mark the aftermarket low of 106.00.
Trading session: The primary upward impulse from the opening was stopped at 106.00. We are considering a short trade in case of retest and holding the level.

Trading scenario: False breakout with retest of the level 106.00

Entry: 104.20 upon re-touching the level and exit downwards.

Stop: 106.25 we hide it behind the tail of the candle above the level of 106.00.

Exit: Close part of the position at 97.10 when the price accelerates and a reversal candlestick pattern appears. Close the rest of the position at 100.01 when the lower high is updated and the structure of the downward trend is broken.

Risk rewards: 1/3

P.S. In order to understand the idea behind the Stock Of The Day analysis, read the following information.

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