Just a quick lock at PLTR price development.
This fits quite well into a 5-wave move and the fibonacci extensions.
After earnings price hit the 4.0 extension with astonishing precision, but this can be seen quite often with other stocks like AMD as well.
Price is currently trading around the 3.764 extension and at a P/E (ttm) of just 534.
This will probably last for some time, but buying here is obviously not a good idea.
A retracement back to the trendline in the 70$ area wouldn't surprise me.
What goes up must come down.
This fits quite well into a 5-wave move and the fibonacci extensions.
After earnings price hit the 4.0 extension with astonishing precision, but this can be seen quite often with other stocks like AMD as well.
Price is currently trading around the 3.764 extension and at a P/E (ttm) of just 534.
This will probably last for some time, but buying here is obviously not a good idea.
A retracement back to the trendline in the 70$ area wouldn't surprise me.
What goes up must come down.
Note
we got another push higher to the 4.5 extension and wave V of 5 could be completed now as price went back below the 4.236 extension and NDX seems to preparing for another Sunday - Monday drop. This stock will never trade on fundamentals at P/E of 40 or 100, but 583 is a bit too much. Retracement back to 0.681 and trendline with gap close would fit quite well.
Note
price even reached the 4.618 extension, almost 100% gain in a month. Not sure who would be buying here except short sellers forced to cover. Note
top most likely in, expecting decline to the blue trend line Note
As expected on Feb 8th, gap close and back to the 0.618Trade closed: target reached
Note
as expected in the first post, it went back to the blue trend line:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.