Above is a 2-hour chart of PLTR that includes both the pre-market and after-hours sessions and there are a few important things that stand out to me. After-hours right now at 10:30pm ET, PLTR has rallied right back into a well defined resistance zone that I’ve marked between 176 and 178. This area has acted as demand in the past and should now act as supply. So far it looks like price is responding to it once again.
Zooming out slightly, the broader structure over the last couple of weeks still looks bearish to me. We’ve seen a clear sequence of lower highs and lower lows, which tells me the short-term trend remains down. Rallies like this, especially when they push into resistance, often turn into opportunities rather than reasons to chase strength. That’s why I’m paying close attention to how PLTR behaves here instead of reacting to the move higher.
At this point, I’m not in a position, but PLTR is firmly on my watchlist for a potential shorting opportunity. What I want to see is some sign of failure in this resistance zone, whether that’s a rejection wick, loss of momentum, or a rollover back below the prior intraday support. If sellers step in and defend this area, it would reinforce the idea that this rally is corrective rather than the start of a new uptrend.
For now, patience is key. I’m less interested in predicting what will happen and more focused on waiting for confirmation. Tomorrow morning should give us more clarity, especially with how the stock trades around this 176–178 zone once regular market hours get underway.
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