PLTR Elliott Wave Setup: Correction Before the Next Leg Higher?
Palantir Technologies (PLTR) is showing signs of completing Wave (3) on the daily timeframe.
Here's the setup:
1. Correction Zone: Expecting a Wave (4) retracement into the $56-$62 range (0.382 Fib level).
2. Upside Targets: If the correction holds, Wave (5) targets are $96 and $106 (Fib extensions).
3. Risk Management: Stop-loss placed at $46.40 to manage downside risk if the setup fails.
Key levels are drawn, and this could offer a great risk-reward opportunity if Wave (4) aligns with the Fib zone and holds support.
Here's the setup:
1. Correction Zone: Expecting a Wave (4) retracement into the $56-$62 range (0.382 Fib level).
2. Upside Targets: If the correction holds, Wave (5) targets are $96 and $106 (Fib extensions).
3. Risk Management: Stop-loss placed at $46.40 to manage downside risk if the setup fails.
Key levels are drawn, and this could offer a great risk-reward opportunity if Wave (4) aligns with the Fib zone and holds support.
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