$PLTR — the chart is very clear with its Fibonacci structure.
Here's the current technical landscape based on what's visible:
📉 Downside Key Level: $78.36
This is the 38.2% Fib retracement level from the recent low ($66.12) to the recent high ($98.17). Strong support zone if there's a correction or failed breakout.
Below that: $72.00: Prior structural support.
$66.12: Wave 4 low and last-resort invalidation level for bullish structure.
📈 Upside Key Level: $98.17
1.0 Fibonacci extension level (from the corrective ABC move).
Acts as the next major resistance. A breakout and close above $98.17 would:
Confirm a continuation of the bullish impulse.
Open up Fib extension targets at:
1.382 → $110.41
1.5 → $114.19
1.618 → $117.98
1.764 → $122.66
🔄 Current Range
Trading between $90.61 (0.764) and $96.00–98.17 (resistance zone).
A pullback to $90.61 or even $85.93 wouldn’t be surprising before another leg higher — unless bulls push through with volume.
🔍 Summary:
Level Significance
98.17 Key breakout level (1.0 extension)
96.00 Horizontal resistance
90.6 176.4% retracement, first support
85.93 61.8% retracement, next support
78.36 Critical downside level to hold
66.12 Wave 4 low (structure invalidation below here)
🔍 Scenario 1: Bullish Breakout Above $98.17
✅ Entry (Breakout Play):
Trigger: Price closes above $98.17 with strong volume.
Entry Zone: $98.50–$99.00 (after confirmation of breakout)
❌ Stop Loss:
Below $96.00 (prior resistance turned support)
Tighter stop: $97.00 if you're entering on breakout day
🔁 Scenario 2: Pullback Entry (Buy-the-Dip)
✅ Entry Zone:
Primary support at:
$90.61 (0.764 retracement)
$85.93 (0.618 retracement)
Ideal entries if price rejects $98.17 and pulls back
🎯 Upside Targets (Reattempt to Breakout):
Reclaim $93–95
Target $98.17 for resistance test
Then follow breakout play above if confirmed
❌ Stop Loss:
Below $84.00 (mid-range structure failure)
Conservative stop: $82.00 (0.5 retracement + psychological level)
🔻 Scenario 3: Bearish Reversal from $98.17
✅ Entry (Short Setup):
If price rejects $98.17 with a strong bearish engulfing or reversal candle
Entry zone: $97.50–98.00
❌ Stop Loss:
Above $99.00–99.50
Conservative stop: $100.00 (round number + buffer)
