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PLTR 2H 2023 Resistance Levels

PLTR 2H 2023 Resistance Levels

Summary

After completing a rising window pattern on 5/9, the stock climbed 80% to reach highs of $17.16 on 6/7 before correcting 18% from highs on 6/7. Resistance levels around $17.16 were seen throughout the following 4 months.

A hanging man and a gravestone doji were seen at the peak of the next resistance test on 7/19, after which the stock corrected 10% to the close on 7/24.

The next resistance test peaked with two bullish candles that appeared to have stalled on 8/1, followed by a hanging man. This correction brought the stock down 29% from the close on 8/1 to the close on 8/17.

Another rally brought the stock up above estimated resistance levels, this time with the stock holding above resistance for about 7 trading days. A tweezers top pattern was an early signal that the rally wouldn't be able to continue.

Key Patterns

7/18 - Hanging Man 📚

7/19 - Gravestone Doji 📚

8/1 - Stalled Variation 📚

10/12 - Tweezers Top 📚

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