PLTR Sitting on the Edge! Will $147 Hold or Break? July 16

Technical Overview:
PLTR is showing signs of a distribution top after a strong rally. The most recent 1H structure shows a Change of Character (CHoCH) just under $149 with lower highs forming and weak bullish reaction.
* CHoCH confirmed under $148.50
* Price struggling inside supply zone: $148.50–$150
* Ascending trendline now broken — possible bearish drift starting

GEX + Options Flow Analysis:
* GEX Resistance Zones:
* $150.00 (83.74% / 3rd Call Wall)
* $152.5 and $155 stacked with heavy GEX Call Resistance
* PUT Walls:
* $144 (3.07%)
* $142 (3.63%)
* Gamma Pivot: $139 = HVL + GEX10 zone
* IVR at 40, with IVx Avg 62.1 → Options relatively quiet, but favoring downside protection
* Call Bias = 55%, but weak

SMC + Price Action:

* BOS followed by CHoCH just beneath $149.15
* Price rejecting inside the OB zone from $148.50–$149.50
* Break of bullish trendline confirms bearish momentum shift
* Downward channel forming under the broken trendline

Trade Scenarios:
📉 Bearish Setup (Favored):
* Entry: $148.20–$148.50 (into supply zone)
* Target 1: $144.50
* Target 2: $139 (HVL + GEX10 support)
* Stop: $150.20
📈 Bullish Breakout (Needs Strength):
* Must break and close above $150
* Entry: Break and retest of $150.50
* Target: $152.5 → $155
* Stop: $148.20

Final Thoughts:
PLTR looks tired near the top of its rally. With GEX resistance above and CHoCH confirmed, the odds favor a pullback unless bulls can reclaim $150 with strength. Watch $147–$144 for possible bounce or breakdown.

This is not financial advice. Please trade based on your own plan and always use proper risk management.