Palantir: Air is getting thin NASDAQ:PLTR recently reached our designated red short Target Zone, triggering an active short trade. We have been managing risk proactively, reducing the position by 50% after hitting the initial take-profit level. As a result, our stop-loss is now set at the entry price. As the weekly chart indicates, the stock is primarily in a major corrective phase, identified as wave II in beige. This correction is expected to continue, first pausing in the upper green Target Zone ($117.54–$95.10) before potentially extending down to the lower green Target Zone between $72.58 and $40.66. Alternatively, there is at least a 33% chance that the stock could first post a new high for wave alt.I in beige, above resistance at $207.23.
