If we see a higher high on PLTR above today's high at $98.29, then this might confirm wave 1 of 5 of Intermediate wave 5. Some bullish divergences should propel price a bit higher to confirm the price action. Wave 2 should create an inverted head and shoulder look as a classic pattern. PLTR creates strong wave 3 price action and shallower wave 5. So, I will be expecting wave 5 to make it to at least 1.764 fib extension of Intermediate waves 1 and 2, which takes things to around $160. Depending on how far wave 2 goes, we can set some targets at a later time. I am off loading my positions from $75. Hoping to rid of everything close to $100. Will be reloading during the wave 2 retracement for the final push up. If by any chance Intermediate wave 4 extends, then things might get a bit complicated. Not getting another higher high now and correction back down to $86 would be a very good indication of that. Until then will be playing one leg at a time...
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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.