$PLTR TOP 20
Added 2024-08-04 18:47:02 +0000 UTC$PLTR has not put a foot wrong as we lead into earnings tomorrow after the close.
It has pulled back exactly to its 0.618 Fib at $24 and held above this level to finish the week, which is what we have been expecting after rejecting at the $29 level.
No surprises here.
I am not going to lie, reporting earnings tomorrow is not ideal, the market sentiment may be too great to have an outlier behave against the grain, so if there is a sell off tomorrow in the market, there may be a relief bounce on Tuesday and $PLTR will benefit from this, once they report a positive earnings, which I think they will.
Impulse wave has not changed, any weakness tomorrow or from the report and we can not rule out a test of the 200 Day MA, which is at the top of the buy zone at $21.50.
Comments
I could be wrong but from B to C is the downtrend. Then from C to the Blue line is Wave 1, and it's currently in Wave 2. Then Wave 3 is next as you see in the chart. Again, I could be wrong as I'm still learning the Elliot Waves theory but that's my understanding of this particular chart. Hopefully I'll be corrected if I'm wrong!
Nathan
2024-08-05 22:19:44 +0000 UTCCan someone explain me how come wave c is going upwards at $29 ? It should be sharp decline in the direction of trend no ?
Dhairya Ratti
2024-08-05 13:56:10 +0000 UTC
