PLTR - Getting Ready To Pop?PLTR having a good bounce from earnings - along with indexes.
It has bounced from this 1:1 area and so now it appears an ABC has completed.
From here price could simply form a regressive retracement to test resistance and channel trendline.
Or
It could be an X wave in which case we may see a much more impulsive move that will potentially retrace 0.618 from top to bottom which would trap longs thinking it is the real bull rally.
Or
It could really be the bull rally - but with indexes cliff walking it seems very unlikely that little names like this wont someday find a lower low.
W RSI diverging from oversold.
But
With SPX potentially correcting - I think good chance PLTR will re-test the 1:1 fib at $11 before it continues up.
Not advice.