$PLTR TOP 20
Added 2024-07-25 17:56:28 +0000 UTCThis is the 1hr chart, so we can see the details of the intraday movement.
The price flushed down to the 0.5 Fib and just held $0.30c above this level and bounced well with the market,
We can see that the price action is respecting the 200 MA on the 1hr chart very well and has reclaimed this level so far.
My concern here and with the market is that this is only a relief bounce and that one more leg down can come next, I just can not rule this out yet.
Within minutes of the market flushing down today people were calling for the bottom to be in.....this is simply not how it works and it is usually where people get caught out in Wave B, thinking the bottom is in.
It's in when we get confirmation and no sooner than that.
I am prepared to give up some percentage to confirm support is in before adding.
Comments
Hi Gar, what do you think of $V for example? Looking, you may think that significant drop is complete? But then it may still have W5 of C to go?
G4Golf
2024-07-26 09:11:01 +0000 UTCLooks promising today… looking forward to add one more buy here… but I guess you are right… better wait and be 100% for confirmation before adding more!
Karnick
2024-07-26 08:33:29 +0000 UTC
