carorekawt

PLTR potential double bottom at MAJOR support

Long
NYSE:PLTR   Palantir Technologies Inc.
PLTR has had a major downtrend ever since its ATH @$45. I am hoping for this downtrend to break soon and this is why. PLTR has a major support zone around $20 - $22 dollars. ever since November 2020, so we could agree that it is a very well-respected support line. Also, it can be argued that it has formed a bullish falling wedge on the support. Measuring the price and date range of the falling wedge, I am expecting that this falling wedge would break out up to the neckline, where then the double bottom is formed, which is very bullish considering the massive downtrend and how underpriced the stock is. Also looking at the RSI value it is the lowest it has ever been currently at 22. That is not 1, not 2, 3 confirmations including the major support, falling wedge, and RSI value. Which would all indicate an uptrend. This is why I am expecting it to bounce off the major support and form a double top , which is also very bullish, however that is looking too far in the future where things could get unpredictable especially in these market conditions. I am looking forward to the falling wedge to breakout to the neckline and will be buying at this major support. Any questions, or criticism please don't hesitate to comment, as I want to hear what you guys think and if I am doing things wrong. (I am new to TA)
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