PLTR Holding Strong. TA for Aug. 6Palantir Technologies Inc.BATS:PLTRBullBearInsightsPLTR Holding Strong – Can the Momentum Continue? 🚀 Technical Overview (30-Min Chart)
PLTR has been in a strong uptrend, riding a steep ascending channel from the $151 support region. After hitting a high of $176.33, price has slightly cooled off but remains above $171, indicating healthy consolidation rather than a breakdown. MACD is showing a gradual loss in bullish momentum, while Stoch RSI is oversold—suggesting potential for another leg higher if buying pressure resumes. Key support lies at $167.50–$165 (previous breakout area), while resistance remains at $176–$180 (channel top). GEX / Options Sentiment * Major Call Walls: $177.5, $180 – heavy gamma resistance where market makers could slow price movement if breached. * Highest Positive NETGEX: $176.3 – aligns with the channel resistance, making it a critical breakout level. * Strong Call Positioning: 72% concentration at $165–$177.5 range keeps the bias bullish above $167. * Put Support: $155 – heavy protection level where downside could stall if selling pressure picks up. Trading Plan Bullish Scenario (Higher Probability if Above $167) * Entry: On reclaim of $173 with strong volume or breakout above $176.5. * Target 1: $177.5 (Call Wall test) * Target 2: $180 (next gamma wall) * Stop Loss: $166 close basis. * Options Idea: Short-term weekly calls targeting $177.5+ strikes if breakout confirmed, keeping expirations tight (1–2 weeks). Bearish Scenario (Only If Breakdown Below $165) * Entry: On break & close below $165. * Target 1: $160.7 (minor support) * Target 2: $155 (Put wall) * Stop Loss: Above $167. * Options Idea: Short-term puts targeting $160–$155 zone, tight expiration to capture momentum drop. Summary
PLTR remains bullish as long as $167 support holds. Watch for breakout above $176.3 for a gamma-driven push to $180. Options flow shows strong call dominance, but failure to hold $165 could flip sentiment quickly. Disclaimer: This analysis is for educational purposes only and not financial advice. Always manage risk according to your trading plan.