$PLTR fakeout and a crucial position
It's fair to say that PLTR did a book perfect FAKEOUT to mislead numerous traders, is an understatement.
PLTR attempted to breach the $20 mark for the second time this year, only to retreat back into the channel.
Currently, it's sitting on a diagonal trendline which, since May 2023, has been recording higher lows.
It's also hovering around a major demand level of approximately 15. The 200-day moving average is approaching and these levels must be maintained.
If not, PLTR could find itself in a potentially risky situation.
PLTR attempted to breach the $20 mark for the second time this year, only to retreat back into the channel.
Currently, it's sitting on a diagonal trendline which, since May 2023, has been recording higher lows.
It's also hovering around a major demand level of approximately 15. The 200-day moving average is approaching and these levels must be maintained.
If not, PLTR could find itself in a potentially risky situation.
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