PLTR suffered a false breakout above

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PLTR had a false breakout before moving back into congestion zone and breaking below its internal upward trend

  • 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.
Nota
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.

Penafian

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