Palantir Technologies (PLTR) is showing signs of completing Wave (3) on the daily timeframe.
Here's the setup:
1. Correction Zone: Expecting a Wave (4) retracement into the $56-$62 range (0.382 Fib level).
2. Upside Targets: If the correction holds, Wave (5) targets are $96 and $106 (Fib extensions).
3. Risk Management: Stop-loss placed at $46.40 to manage downside risk if the setup fails.
Key levels are drawn, and this could offer a great risk-reward opportunity if Wave (4) aligns with the Fib zone and holds support.
Here's the setup:
1. Correction Zone: Expecting a Wave (4) retracement into the $56-$62 range (0.382 Fib level).
2. Upside Targets: If the correction holds, Wave (5) targets are $96 and $106 (Fib extensions).
3. Risk Management: Stop-loss placed at $46.40 to manage downside risk if the setup fails.
Key levels are drawn, and this could offer a great risk-reward opportunity if Wave (4) aligns with the Fib zone and holds support.
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@ TheStockWhale on Twitter / X
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.