Palantir: Time to Exit?

Updated
Upon closer reevaluation of Palantir, we continue to believe that we have not yet completed Wave (2) and that the price should not continue to rise. Our initial hypothesis was invalidated; we first expected to see Wave 5 at $19. Now, we assume Wave 5, or rather Wave (1), at $21.85, having developed Waves A and B, with Wave B at $25.69. This should also form our top and serve as an Expanded Flat, which we set from Wave A downwards. This closely aligns with the 61.8% level, which is highly probable for a Wave (2). Our target range is between $12 and $9.36. We should not fall below this; otherwise, we would consider closing the position down to $7.19, although we deem this unlikely. We believe the price will move within this range. We will place a limit buy order only after observing a significant weakness in Palantir.
Note
snapshot
For Palantir, we've had to make another adjustment because the price continued to rise, surpassing the 138% level. Our new scenario is that we've seen our high at $27.50, marking our Wave (1). We now expect a three-wave structure leading to the end of Wave (2), which should reach between 50% and 61.8%. This also aligns with the level of the subordinate Wave 4, which is good because, technically, this is a level where one can expect Wave (2) to occur. The current structure doesn't allow for much speculation except for the possibility that it may lean towards a zigzag pattern for Wave B, which technically suits us better than a flat correction. With a flat, it would be harder to come down as far as we anticipate. A zigzag makes it more feasible. The $21.85 level will likely become a support for us, as well as the $19 level. There's also a gap at $19 that we'll probably close or at least partially close. We'll keep you updated on how it develops. If we exceed 138% again, we'll need to reconsider our stance on Palantir, as such bullish movement would not align with our expectation of Wave (1).
When the retracement gets clearer we are going to post a new limit, so we suggest you leave a follow.
Elliott WaveFibonaccipalantirPLTRpltrlongstocksignalsTrend Lines

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