Short
$PLTR ELLIOT WAVE ANALYSIS
Updated
This analysis reflects my perspective on NYSE:PLTR through the lens of Elliott Wave theory. I acknowledge the potential for error and welcome any feedback or alternative viewpoints.
After thorough analysis, it seems that NYSE:PLTR has concluded its impulsive phase and is now set for a significant downward movement. Currently navigating through sub wave C of wave 2 correction, it's anticipated to retrace to approximately the 0.618 retracement level, marked by the green rectangle, which serves as a pivotal point due to robust support. Although this projection isn't definitive and relies on typical wave 2 correction patterns, it provides a useful estimate for potential price movement.
After thorough analysis, it seems that NYSE:PLTR has concluded its impulsive phase and is now set for a significant downward movement. Currently navigating through sub wave C of wave 2 correction, it's anticipated to retrace to approximately the 0.618 retracement level, marked by the green rectangle, which serves as a pivotal point due to robust support. Although this projection isn't definitive and relies on typical wave 2 correction patterns, it provides a useful estimate for potential price movement.
Note
In response to feedback from a commenter, I've revisited the wave counts and made adjustments accordingly in the latest chart. Following a positive earnings report, I am now confident that we're currently in wave B. This wave is anticipated to either reach the height of wave 5, resulting in a flat top, or exceed it before reaching its peak. Regardless, my initial target for wave C remains unchanged, and the initial perspective remains intact.
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