Short
PLTR signals over bought
PLTR breaks above its upward trend signaling that it is over bought and poised for a possible reversal
- When stock is trending upwards steadily, seeing it break above its upward trend is a sign of price exhaustion
- when this occurs we usually a experience a reversal shortly after
- sometimes stocks going really far into overbought zones before finally turning around.
- We see the last 2 hours of trading, the stock started selling off when smart money was in control indicating that the stock was too expensive
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Related publications
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.