Watching PLTR, 172.30 Looks Crucial for Short-Term Direction
Been keeping an eye on $PLTR today, and that 172.30 level, which seems to be acting as some sort of intraday floor, is looking pretty critical. We dipped to it earlier and bounced a bit, but the sustained pressure makes me wonder if it'll hold. If it gives way definitively, I'd expect to see a bit more downside, perhaps testing the 170-ish area where there seems to be a bit more historical support. On the flip side, a solid close above today's open of 173.20 might suggest some buying interest re-emerging, but that seems less likely given the current action. My thesis here relies entirely on that 172.30 level holding firm; a clear breach invalidates it and points to further weakness. Always a good time for some optionality if you've got an opinion.
Ah, the old "crucial level" analysis. It's always crucial until it's not, then the next level becomes the crucial one. Good luck watching that floor; hope it's not made of particularly cheap plywood.