Panjang

PLTR Falling Wedge Reversal

742
Palantir got beat down this week due to the broad selling in every sector but is still a high growth, fundamentally strong stock to have. We see a falling wedge reversal pattern forming, ranging in a tight cone from the past couple of days. After hours, news dropped that Cathie Woods from ARK was buying, which lifted shares up almost 3%, and is currently trying to break out of the wedge. RSI looks healthy after cooling off on all time frames proving that PLTR is oversold. We are in PLTR spreads, and are waiting for a confirmation break out of the wedge. Entry Above 24.4, PT1 27.3, PT2 30.1, LT PT 45+, SL below 22.7

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