PLTR suffered a false breakout above
PLTR had a false breakout before moving back into congestion zone and breaking below its internal upward trend
PLTR is certainly a great stock and recently getting into S&P 500 just adds to it.
- False breakout leading to pullback into trading zone
- broke through internal upward trend
- low volume during this time indicates congestion.
- Potentially looking at a pullback in time before more rallying continues
PLTR is certainly a great stock and recently getting into S&P 500 just adds to it.
Note
Also noticed that RSI has been on a slow decline and broke under SMA level during the last couple days. Going under the SMA occurred during the false breakout. This gives a pretty clear warning sign of weakness in further rallies.
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