First, it lost the ascending channel’s low that we mentioned last week, and this tells us that the momentum is getting weaker. Doesn’t mean a reversal, neither that we are seeing a pullback, but that PLTR is resting.
In this case, we are having a Time Correction (when the price keeps moving sideways, as it can’t drop, but it can’t keep going up either). This scenario is quite realistic and it is a reasonable movement for PLTR right now.
The $ 25.23 is a key point for us, and maybe we can draw a purple trendline that could help us in the future, if PLTR drops more.
We have the idea of an here, but in the we have a just under its resistance, and this is not good. PLTR must deny this pattern quickly in order to not lose to the .
However, this wouldn’t be a reason to panic, as a pullback to the 21 would be acceptable, and wouldn’t ruin the . My followers bought PLTR with me about a month ago, and I see no reason to panic, chart-wise or regarding the company’s fundamentals.
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Thank you very much!