Trading Analysis:
* Current Trend: PLTR is showing strong upward momentum, breaking out of a rising wedge pattern. However, it's approaching resistance near $80, with $85 being a major level to watch.
* Support Levels: Immediate support is at $74, followed by a stronger base at $72.50.
* Resistance Levels: Resistance stands at $80, with $85 marking a significant overhead level.
* Indicators:
* MACD: Shows bullish momentum but starting to flatten, indicating a potential slowdown.
* Stochastic RSI: Entered the overbought region but beginning to curve downward, hinting at possible consolidation or minor pullback.
* Volume: Consistently higher volume on bullish candles, suggesting strong buyer interest.
Gamma Exposure (GEX) for Options Trading:
* GEX Levels:
* Call Walls:
* $80 (Highest positive NETGEX and Gamma Wall).
* $85 (Third CALL Wall, signaling strong resistance).
* Put Walls:
* $72.50 (Second PUT Wall).
* $60 (Primary support from options data).
* IVR & IVx: Elevated IVR at 81.2 and IVx average at 78.5, suggesting PLTR options are relatively expensive. This is suitable for strategies like spreads or covered calls.
* Options Sentiment: Calls dominate with 76% GEX allocation, confirming bullish sentiment.
Actionable Suggestions:
1. Bullish Scenario:
* Entry: Above $80 with confirmation of breakout.
* Target: $85 (next major resistance level).
* Stop-Loss: $74.
2. Bearish Scenario:
* Entry: Below $74 if price rejects $80 resistance.
* Target: $72.50 and potentially $70.
* Stop-Loss: $80.
3. Option Strategy:
* Bull Call Spread: Buy $80 call and sell $85 call for a risk-defined bullish setup.
* Short Put: Sell $72.50 put to capitalize on strong support and elevated IV.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research and manage your risks before trading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.