If You Missed To Buy Palantir ($PLTR) You Have A New Opportunity
If You Missed To Buy Palantir ($PLTR) You Have A New OpportunityAugust 8, 2022ByEWFLuis
Palantir Technologies (PLTR), Inc. is a holding company, which engages in the development of data integration and software solutions. It operates through the Commercial and Government segments. The Commercial segment offers services to clients in the private sector. The Government segment provides solutions to the United States (US) federal government and non-US governments. The firm offers automotive, financial compliance, legal intelligence, mergers and acquisitions solutions.
PALANTIR ($PLTR) April Daily Chart
In January 2021, Palantir made an important peak at 45.00 and it has been going down ever since. We could see 5 waves clearly from the top where wave ((4)) is a triangle. This impulse we labeled as wave “a” ending at 17.09, more than 50% in losses. After that, PLTR bounce in 3 waves above of 38.2% Fibonacci retracement of wave “a” and resume to the downside. This correction ended at 29.29 dollars and we labeled as wave “b”. The next structure lower as wave “c” has ended with 5 swings lower to complete a zig zag correction from January 2021 peak as wave (II). This wave “c” ended at 6.44 very close to our proposed level at 6.60. (If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory).
PALANTIR ($PLTR) August Daily Chart
PALANTIR ($PLTR) August Daily Chart
After completing wave (II), Palantir bounce developing a leading diagonal structure. Up from 6.44, wave 1 ended at 9.38 and pullback as wave 2 finished at 7.49. Then rally again and wave 3 completed at 10.50. The market rejected the stock forming a flat correction as wave 4 ending at 8.65. This movement penetrated the zone of wave 1; therefore, it is a leading diagonal structure from the low. Last push higher to complete wave 5 and (1) ended at 11.78. From here, we are expecting a correction in 3 or 7 swings before continuing the rally again. The ideal area currently comes in 9.11 – 8.50, but it could change depending on how the structure develops in the market in near term. The view is valid as we stay above 6.44.
Take 14 Days Trial
Elliottwave Forecast updates one-hour charts 4 times a day and 4-hour charts once a day for all our 78 instruments. We do a daily live session where we guide our clients on the right side of the market. In addition, we have a chat room where our moderators will help you with any questions you have about what is happening in the market.
Source:https://elliottwave-forecast.com/stock-market/palantir-pltr-new-opportunity/
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Great article to share