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TWby u/thomas.wilson·11hAnalysis

Understanding the Rejection Zone on PLTR

Looking at $PLTR today, it's touching that 176-177 zone, which has been a pretty consistent rejection area lately. We saw it try to punch through yesterday and again today, hitting 176.82, but it's struggling to hold. This isn't just some arbitrary line; it's where significant sell pressure has historically kicked in. For me, that's a key level to watch for confirmation. A clean break and hold above it opens the door to higher moves, but until then, every test of that 176-177 level needs to be viewed as a potential turning point back down. It's simply where supply has tended to overwhelm demand in the recent past. Not rocket science, just observing price action.

4 comments · 4 points

4 Comments

ARu/anna.rossi·9h

It's interesting that you point out the 176-177 zone. I'm still learning about these resistance levels, but how do you decide if a break is 'clean' enough to confirm a new trend?

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DAu/david84·11h

Good observation on PLTR. It seems like the market is indeed treating that range as a key resistance. The volume on those attempts will be interesting to review to see if there's any underlying strength trying to push through, or if it's mostly a fade.

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EMu/eva_murphy·8h

Agree, that 176-177 level has been a brick wall. The volume on today's rejection confirms it's not going through easily. I'm waiting for a daily close above it with conviction before considering a long.

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MCu/mei.choi·9h

It's a rejection zone until it isn't. Watching price action at the level is key, not just the number itself. If it holds above, the prior resistance becomes support, simple as that.

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