Palantir Technologies Inc. (PLTR) All-Time High: Let Me Explain!

13 Okt

You don't need to be a genius to figure this one out and you do not need any experience... This is an easy chart, let me explain.

In January 2021 PLTR produced an All-Time High. As is usual and normal, after strong bullish action a correction follows.

The establishment of this All-Time High signaled the end of the bullish wave; the start of the bearish cycle.

We have the classic correction (ABC-Bear-market). This is followed by sideways action (blue channel) and then a new bullish wave (5-up wave pattern).

Palantir Technologies (PLTR) is still within the bullish impulse.

The highest volume happened February 2024. This is the third wave (the highest volume always comes on the third wave).

A higher high compared to February is happening now, there is high volume in September but lower than February. This is the fifth wave. The fifth wave signals the end of the bullish impulse.

Prices can go higher. There can be one, two, three weeks green and then a crash, or it can crash starting Monday. The fifth and final wave is the speculative wave so anything goes, but after the completion of this wave a crash comes.

We have a long-term lower high when we compared October 2024 vs January 2021.

A correction comes next, another ABC.
After the correction comes consolidation and then a new bull-market.
MA200 is the next and main support. That is, PLTR is moving toward 18.

Namaste.