$PLTR ELLIOT WAVE ANALYSIS
Updated
This analysis reflects my perspective on 
PLTR through the lens of Elliott Wave theory. I acknowledge the potential for error and welcome any feedback or alternative viewpoints.
After thorough analysis, it seems thatPLTR has concluded its impulsive phase and is now set for a significant downward movement. Currently navigating through sub wave C of wave 2 correction, it's anticipated to retrace to approximately the 0.618 retracement level, marked by the green rectangle, which serves as a pivotal point due to robust support. Although this projection isn't definitive and relies on typical wave 2 correction patterns, it provides a useful estimate for potential price movement.
PLTR through the lens of Elliott Wave theory. I acknowledge the potential for error and welcome any feedback or alternative viewpoints.After thorough analysis, it seems that
PLTR has concluded its impulsive phase and is now set for a significant downward movement. Currently navigating through sub wave C of wave 2 correction, it's anticipated to retrace to approximately the 0.618 retracement level, marked by the green rectangle, which serves as a pivotal point due to robust support. Although this projection isn't definitive and relies on typical wave 2 correction patterns, it provides a useful estimate for potential price movement.Note
In response to feedback from a commenter, I've revisited the wave counts and made adjustments accordingly in the latest chart. Following a positive earnings report, I am now confident that we're currently in wave B. This wave is anticipated to either reach the height of wave 5, resulting in a flat top, or exceed it before reaching its peak. Regardless, my initial target for wave C remains unchanged, and the initial perspective remains intact.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.