PLTR to $80 by EOY
Updated
PLTR had a great day today, and has had a great month so far following an earnings report that beat estimates. Using the Magic Linear Regression Channel [MW] we can see that PLTR broke out of a 2-year long channel at the beginning of the month (November 2024) following it's earnings report.
This means that its price structure has a brand new change of character. Using a second Magic Linear Regression Channel [MW], we can create a new channel based on the pivot high prior to earnings and the pivot high prior to today. However, PLTR is also breaking out of that channel. By adding an additional outer Fibonacci band to the new channel, we can see that PLTR has a potential area of interest at around $80 - a 10% move.
If the new channel is valid, then this can be the first area where we might see a correction in a bullish scenario. Since PLTR is already at the top of the new channel, it could potentially bounce back from there, but it's already moving up in post-market trading, so, I'm guessing that bearish scenario is less likely.
Barring some crazy world events, I'm guessing we can see a steady move to $80 before seeing any kind of major correction.
This means that its price structure has a brand new change of character. Using a second Magic Linear Regression Channel [MW], we can create a new channel based on the pivot high prior to earnings and the pivot high prior to today. However, PLTR is also breaking out of that channel. By adding an additional outer Fibonacci band to the new channel, we can see that PLTR has a potential area of interest at around $80 - a 10% move.
If the new channel is valid, then this can be the first area where we might see a correction in a bullish scenario. Since PLTR is already at the top of the new channel, it could potentially bounce back from there, but it's already moving up in post-market trading, so, I'm guessing that bearish scenario is less likely.
Barring some crazy world events, I'm guessing we can see a steady move to $80 before seeing any kind of major correction.
Note
We're almost there. 
PLTR 80. Get ready for a pullback. I don't imagine that it'll be much more than 10%, but I'm guessing it'll be at least that.Trade closed: stop reached
PLTR at the outer Fibonacci level of its new channel in pre-market. It could keep going, but don't hold your breath. $180 by EOY achieved.
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