The Case for a $PLTR Bottom

Here is a count for $PLTR that suggests a low of great significance is being put into place.

I will make some observations on some of the technicals:

  1. The high volume candles that have recently formed suggest capitulation.
  2. There is bullish divergence on the RSI.
  3. The lowest low on the RSI corresponds with the “3rd” wave (on my count), which is what we would expect to see.

From this point, we will need to see it stabilize, perhaps enter a period of accumulation, but at some point form an impulse wave on lower timeframes to help us confirm a low, and we will need some initial move up before we can begin generating targets. That said, if it is a primary (pink) 2 down there, as I believe it is, then it will eventually take out its prior all-time high.


Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.

One thought on “The Case for a $PLTR Bottom”

Leave a Reply

Your email address will not be published. Required fields are marked *