Palantir Technologies Inc.
Short
Updated

Palantir - A devastating -40% drop!

2 969
🤬Palantir (PLTR) will create a major correction:
snapshot

🔎Analysis summary:
After a textbook bullish break and retest in mid 2024, we witnessed a parabolic rally on Palantir. During the entire rally, we only witnessed one red candle, which clearly shows some significant overextension. Therefore, Palantir will create a major correction now.

📝Levels to watch:
$200 and $100

Phil - @SwingTraderPhilTV
SwingTrading.Simplified. | Investing.Simplified. | #LONGTERMVISION
Trade active
🤬Palantir (PLTR) is nicely heading lower:
snapshot

🔎Analysis summary:
After publishing the original analysis, Palantir already created a nice move lower of about -25%. But looking at all the bearish pressure, this move does not seem to be over soon. Instead it is quite likely that Palantir keeps dropping for another -20% move.

📝Levels to watch:
$100

SwingTraderPhil
SwingTrading.Simplified. | Investing.Simplified. | #LONGTERMVISION
Trade closed: target reached
🤬Palantir (PLTR) still remains bearish:
snapshot

🔎Analysis summary:
Yes, Palantir is still not done rejecting the major all time high resistance. And the last time Palantir created such a strong bearish engulfing candle was all the way back in 2022. I think that we all can remember that Palantir dropped -35% afterwards.

📝Levels to watch:
$200 and $100

SwingTraderPhil
SwingTrading.Simplified. | Investing.Simplified. | #LONGTERMVISION

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