Super extended here At ATH...
Out of all the 2020/2021 Spacs that IPO, PLTR defied the odds and outperformed.
I think a pullback is coming for that 30$ gap close but a drop that steep won't come without some company specific negative catalyst.
Last time price was this extended technically on PLTR was July 31 of this year.. price corrected 30% over the next 2weeks.
For now I'm looking for a pullback to 38 gap close and most likely 36 fib support. No timetable for this draw down but considering PLTR range of movement we could see 36$ by 10/25.
Like I said, 30 would be the long term short but 36 will be hard to breach without a negative catalyst (Earnings).. I take profit at 36..
And yes permabulls there is a possibility of a major cup and handle at play if 30ish holds but that handle will likely take weeks to form which means chop and consolidation at between 30-36
Stop losses over 46.00
Out of all the 2020/2021 Spacs that IPO, PLTR defied the odds and outperformed.
I think a pullback is coming for that 30$ gap close but a drop that steep won't come without some company specific negative catalyst.
Last time price was this extended technically on PLTR was July 31 of this year.. price corrected 30% over the next 2weeks.
For now I'm looking for a pullback to 38 gap close and most likely 36 fib support. No timetable for this draw down but considering PLTR range of movement we could see 36$ by 10/25.
Like I said, 30 would be the long term short but 36 will be hard to breach without a negative catalyst (Earnings).. I take profit at 36..
And yes permabulls there is a possibility of a major cup and handle at play if 30ish holds but that handle will likely take weeks to form which means chop and consolidation at between 30-36
Stop losses over 46.00
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