PLTR: What is this craziness?
PLTR price action has gone crazy this week. First, the H&S pattern failed when $19 target failed and pushed above the neckline; creating an inverse H&S pattern. The target for inverse H&S pattern almost got hit, but then the post earning shenanigans began. Price has fallen through the neckline once again and if the last low of $20.20 breaks, then it will be enroute to test 0.618 fib retracement area of $15.29.
In the grand scheme of things, anywhere between $15 to $17 would be a fantastic buy area. If we are fortunate, then this correction would extend, and price will get down to the golden pocket $10.5 area. It could take the rest of the year to play out, but I will start to accumulate shares and setup some option plays to get my bag going. I think the fundamentals of the company remains unchanged and long term it is a triple digit stock. So, anything is a gift and DCA is the way to go.
In the grand scheme of things, anywhere between $15 to $17 would be a fantastic buy area. If we are fortunate, then this correction would extend, and price will get down to the golden pocket $10.5 area. It could take the rest of the year to play out, but I will start to accumulate shares and setup some option plays to get my bag going. I think the fundamentals of the company remains unchanged and long term it is a triple digit stock. So, anything is a gift and DCA is the way to go.
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