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RedRock7841
Feb 7, 2024 10:12 PM

PLTR: Target 27.16 Long

Palantir Technologies Inc.NYSE

Description

Looking at the monthly chart of Palantir. Stock should start showing topping signs around 27.16

Reason:
1) About to hit the resistance zone
2) Measured move from the break out coincides with resistance zone
3) Coincides with the fifth wave move target on the Fibonacci levels.
4) On the weekly chart; the ADX line is dropping lower as price continues the upmove, indicating that trend is loosing strength.

The correction down should find support around 13.55; followed by a larger-up move.

Comment

Anticipating a correction down from 27.16. A re-entry can be made around 15.5
Comments
cogepan11
I don't think this will hit 27. heavy R need to be break at this lv and possibly retrace to 22.21 before breaking the R to the next level of 27ish
RedRock7841
@cogepan11, Agree, anticipating a pullback first before attempting to touch the 27ish level
HassiOnTheMoon
maybe break above to the 30s 😄🤞
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