$PLTR TOP 20
Added 2024-11-04 11:11:52 +0000 UTC$PLTR will be reporting after the close today, to kick of this week's action (along with $HIMS)
A very clear rejection so far at the $45 level, which was the previous ATH level from Jan 2021.
We can see that the price has pulled back to the 1.618 Fib, which is the standard level for Wave 3 to complete but no surprise to see it overshoot....momentum has been strong here.
My indicators are showing that a pull back is clearly needed here, with the 0.38 Fib being the target to complete Wave 4 at $34.
The 50 Day MA is right at the 0.236 Fib now at $38, so this is a confluence level, so may offer some support, which we would like this to be Wave A completing of Wave 4.
$PLTR typically has some strong reactions post earnings and I expect the same today.
I have already trimmed -20% of my $PLTR holdings and this is normal for me for Wave 3 - Wave 4.
The variable here will be the election tomorrow, if the market reacts positively, it could stop the pull back short and rally too
We need to keep to our strategy, more times than not, it protects us.
