PLTR Weekly Options Trade Plan 2025-03-18
Analysis:
Technical Analysis Synthesis:
Price Position Relative to MAs:
On the 5-minute chart, the current price ($83.89) is slightly below the 10-period EMA ($84.045) and the 50-period EMA ($84.417), indicating a short-term bearish momentum. However, it's still above the 200-period EMA ($84.676), suggesting a longer-term bullish trend. On the daily chart, the current price is above the 10-day EMA ($84.712) but below the 50-day EMA ($86.007), indicating a possible short-term correction within an overall bullish trend. The price is significantly above the 200-day EMA ($60.322), confirming the long-term bullish trend. RSI Readings:
The 5-minute chart shows an RSI of 41.42, which is neutral, not overbought or oversold, indicating no immediate overbought/oversold condition. The daily chart RSI at 49.92 also indicates a balanced state, not signaling an extreme move. Bollinger Bands:
On the 5-minute chart, the price is within the Bollinger Bands, with the bands being relatively tight, suggesting low volatility and a potential for a breakout. On the daily chart, the price is well below the upper band, which is currently at $113.595, suggesting a potential for upward movement, but the price is also close to the lower band ($66.048), indicating a possible bounce back. Support/Resistance Levels:
Key support levels from the 5-minute chart are around $83.64, $83.77, and $83.83, which are very close to the current price, suggesting potential support. Resistance levels are at $84.33, $84.73, and $84.77, with the current price being below these levels.
Market Sentiment Integration:
VIX Data:
The VIX at 21.56 and falling suggests a reduction in market fear, but still within the elevated volatility range, indicating caution. Recent News Impact: