$PLTR TOP 20
Added 2024-02-04 22:55:40 +0000 UTC$PLTR is a big one for us to start off the week with earnings after the close tomorrow.
$PLTR is at a very important junction right now....it has pulled back to the 0.38 Fib which is shallow for a Wave 2 but not uncommon for this market at the moment as we saw with $AMD and $AMZN that they had very shallow pull backs.
The 200 Day MA is also just at the 0.38 Fib too, making this a strong confluence level....so if there is a strong earnings, improving on their previous earnings then it can reverse from here and Wave 2 is complete.
If earnings are flat or even a slight miss....then it is unlikely that the 200 Day MA will hold and we will be watching for the lower Fib levels for support: the 0.5 Fib at $13.84 or the 0.618 Fib at $11.96.
The most important point here is that, I believe Wave 2 completes tomorrow or very shortly and Wave 3 is next regardless....unless there is a shocking report released that surprises everyone but I do not think this will be the case.
I have not added here yet, I do prefer to see lower Fib supports, like what we got with $ABNB this week and that is why I bought.
So I will likely see what earnings report and make my decision then, unless there is a large dip tomorrow before they report.
