feelsgains

PLTR Buying the dips with caution

Long
feelsgains Updated   
NYSE:PLTR   Palantir Technologies Inc.
PLTR has been bleeding this past week. The huge volume spikes around the 25-29 zone make me believe that many people took opportunity of the lower share price to get in, while a lot of people took their profit/loss, probably in fear of a declining market for speculative stocks after recent events.
Volume is almost as high as during IPO, and the trend is currently bearish. I am expecting the price to possibly dip further this week and fight between 23 and 25. The next support zone is 21-23, which is for me the most optimal entry point for longer term, as in multiple months. I will be observing this one and get in if I think we have reached bottoms. For now the buy wall at 25 has been broken but there's still a lot of buyer interest, which leads to believe that there will be a lot of fighting in the following days.

Next step is to observe the bearish trend strength and get in when it exhausts. I would expect that to happen around the lower support at 20-21. Pay close attention to the volume, as it could indicate when the downtrend slows down and might reverse. News are also crucial for this kind of volatile stock and could make any kind of TA completely useless.
Comment:
"Cathie Wood's Ark Invest Added Shares Of Palantir, Twitter, And Sold Apple, Facebook On Friday"
www.benzinga.com/new...e-facebook-on-friday
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