Palantir, expecting retracement
Palantir uptrend move from June 2024 so far has been incredible. But I think enough is enough!
Palantir broke out of its "cup and handle" pattern in mid June and already hit its target at about 50$ per share.
The stock price is currently standing at 58$ per share, which is surpassing its cup and handle target and even 4.76 Fibbonaci extension level.
I believe we will see a retracement to around 50$ per share soon. We also see that the when RSI indicator is at these elevated levels, there is usually a retracement or sideways price action.
Palantir broke out of its "cup and handle" pattern in mid June and already hit its target at about 50$ per share.
The stock price is currently standing at 58$ per share, which is surpassing its cup and handle target and even 4.76 Fibbonaci extension level.
I believe we will see a retracement to around 50$ per share soon. We also see that the when RSI indicator is at these elevated levels, there is usually a retracement or sideways price action.
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