The Long Investor

$PLTR TOP 20 UPDATE

Added 2023-05-16 10:56:16 +0000 UTC

Big drop since hitting the previous high and at our blue line, it came all the way down to the 50 Day MA on the 1hr chart and then bounced, we will see how it behaves after this bounce but if we look at the MACD, it is almost a carbon copy of what happened in Mid Feb after its earnings then.

So I am still leaning towards the gap fill for now, it may test the blue line again and if it rejects for a third time, it will certainly come down and look to gap fill.

For now, I recommend to wait, as the parabolic move, coupled with a hard rejection and large gap, does not tell me that this is fully ready to go higher just yet