Chart of the day

Where do we stand fundamentally?

PLTR sale and net income has significantly increased in 2024 comparing to 2023 adding fuel to its stock price increase after the basing period since inception on the stock market. Expected is this trend to continue.

PLTR is bouncing from a 21.09 channel upside support and is breaking above the strong upside resistance of 27.50. We need to see a break above 32 for the upside continuation in the third upside wave.

An invalidation level of a third wave long-term extension higher and a bullish cycle is 21. As said this extension higher could lead to 45 target in the medium-term to long-term if we get a confirmed break above 32.

_{Try a long trade entry with a stop loss below 28 to target 43 and higher.}