PLTR Possible Breakout or Steady Move Upward
Nice IPO run-up over 200%, institutions are definitely interested in PLTR. The 93-day hold rule shows selling, which is normal for the original investors to take profits. Remember many are in at much lower price points. This also shows a nice base after they sold that has continued to remain strong to this day. Just so happens the 200DMA is also at the same support level of 22.50, which PLTR showed more signs of support.
I believe the base is forming nicely for an attempt to pop through the top of the triangle, which if we witness this on above-average volume then I think there will be a run to test the ATH of 45.
At this points profits can be taken or ideally work through another base with some sideways movement prior to advancing up the next level.
One step at a time though.
I believe the base is forming nicely for an attempt to pop through the top of the triangle, which if we witness this on above-average volume then I think there will be a run to test the ATH of 45.
At this points profits can be taken or ideally work through another base with some sideways movement prior to advancing up the next level.
One step at a time though.
Trade closed: stop reached:
Stopped out.