The US market is preparing for further correction it would seem. There's just not enough people buying - let alone trading volume in general.
This may look like a "double bottom" prior to earnings. But technically, on the weekly, we have already crossed down on the RSI and the MACD looks as though it will follow suit next week (perhaps after earnings)
Fundamentally, there's weakness in the overall market PLUS Palantir's earnings calls are lackluster at best. In this bear market there likely won't be anything too exciting - particularly for those that don't understand Palantir's business or their revolutionary software.
I see more buying opportunities short term for myself as a long term investor, as I believe we'll see further movement downward. Maybe even an emotionally driven breakout downward.
Please let me know your thoughts and what you think will over by the end of this year.
This may look like a "double bottom" prior to earnings. But technically, on the weekly, we have already crossed down on the RSI and the MACD looks as though it will follow suit next week (perhaps after earnings)
Fundamentally, there's weakness in the overall market PLUS Palantir's earnings calls are lackluster at best. In this bear market there likely won't be anything too exciting - particularly for those that don't understand Palantir's business or their revolutionary software.
I see more buying opportunities short term for myself as a long term investor, as I believe we'll see further movement downward. Maybe even an emotionally driven breakout downward.
Please let me know your thoughts and what you think will over by the end of this year.