Long
PLTR: Taking a fresh look. More bullish than before!
PLTR chart has been bullish for a while and the recent price action looks very much like a wave 3 of some degree. This made me rethink my previous count that I was tracking as an expanding ending diagonal for wave 5 of c of various degrees of wave 5s to complete intermediate wave 1. But that started to look a bit unrealistic. Wave 5 was getting bigger than the 2x extension of waves 1 and 2.
Taking a second look to terminate intermediate wave 1 at the March high. This gives us a very short and shallow intermediate wave 2 correction ending in May. This makes the rest of the price action pretty bullish, even though the minute degree wave 2 of Minor degree wave 1 came in very deep. Let's ignore that situation, as it was very quick correction, and price has moved very quickly and very far without any major dips since. And if this bullish count is correct, then price should not come down to orange line $33.13 until minute degree waves 3, 4 and 5 are complete. Price should hit a few all-time highs to around $60 area before we see a sizable dip. However, that dip should not violate the red line at $20.65. If all goes well, the huge wave 3 of 3 will start that should take the price to the moon.
This count is wrong if price goes below $33.13 before the 5-wave minute degree sequence is complete. I will go back to my previous, now somewhat awkward looking count to end intermediate 1 brace for a much bigger wave 2.
Taking a second look to terminate intermediate wave 1 at the March high. This gives us a very short and shallow intermediate wave 2 correction ending in May. This makes the rest of the price action pretty bullish, even though the minute degree wave 2 of Minor degree wave 1 came in very deep. Let's ignore that situation, as it was very quick correction, and price has moved very quickly and very far without any major dips since. And if this bullish count is correct, then price should not come down to orange line $33.13 until minute degree waves 3, 4 and 5 are complete. Price should hit a few all-time highs to around $60 area before we see a sizable dip. However, that dip should not violate the red line at $20.65. If all goes well, the huge wave 3 of 3 will start that should take the price to the moon.
This count is wrong if price goes below $33.13 before the 5-wave minute degree sequence is complete. I will go back to my previous, now somewhat awkward looking count to end intermediate 1 brace for a much bigger wave 2.
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