PLTR:
PLTR's sitting at a critical moment, will it bounce off the bottom channel of the rising wedge or will it break lower? A break lower means long puts with profit targets set at $18 level, a bounce off the bottom wedge means long calls, target upper channel at 22.80 and a higher probability that the wedge will break igniting moves to 24(.5fib), 24.82(.618 fib), and $27.44(1:1 retracement). or.... we get a boring ass ping pong with the rising wedge contiuning.. hopefully not. curious to see where this goes. Will be keeping this on my watchlist. Waiting for this triangle break to present some good entries.
PLTR's sitting at a critical moment, will it bounce off the bottom channel of the rising wedge or will it break lower? A break lower means long puts with profit targets set at $18 level, a bounce off the bottom wedge means long calls, target upper channel at 22.80 and a higher probability that the wedge will break igniting moves to 24(.5fib), 24.82(.618 fib), and $27.44(1:1 retracement). or.... we get a boring ass ping pong with the rising wedge contiuning.. hopefully not. curious to see where this goes. Will be keeping this on my watchlist. Waiting for this triangle break to present some good entries.