Long
breakout
https://www.tradingview.com/x/FuqPqeRE/
Appears PLTR has decisively broken out of the channel to the upside over the past few days.
I expect a pullback (~$29) to retest the channel then, with the imminent rate cut from the Fed, for this stock to continue its rally. It has basically been basing since inception in Sept 2020.
WEEKLY chart below shows the long basing cycle: Create a high, retest the low, base in the 30-60% area, then retest the high, which is where we are at now.
https://www.tradingview.com/x/TCUowppk/
Appears PLTR has decisively broken out of the channel to the upside over the past few days.
I expect a pullback (~$29) to retest the channel then, with the imminent rate cut from the Fed, for this stock to continue its rally. It has basically been basing since inception in Sept 2020.
WEEKLY chart below shows the long basing cycle: Create a high, retest the low, base in the 30-60% area, then retest the high, which is where we are at now.
https://www.tradingview.com/x/TCUowppk/
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