Palantir has experienced a remarkable rally since its April lows, surging to its current price levels. Throughout this uptrend, I’ve been analyzing the movement through the lens of Elliott Wave Theory. Given the stock’s relatively limited price history, the wave structure has been notably straightforward and discernible.
We’ve decisively broken through several key price zones as the stock appears to be approaching the culmination of a fifth wave, with a projected target around the $185–$186 range. Based on my analysis, this level may act as a potential area for profit-taking, potentially triggering a retracement toward the Point of Control (POC)—the price range that has seen the highest volume during this ascent.
If such a pullback does occur, it could serve as an effective hedge for those who have realized significant gains during this impressive rally.
We’ve decisively broken through several key price zones as the stock appears to be approaching the culmination of a fifth wave, with a projected target around the $185–$186 range. Based on my analysis, this level may act as a potential area for profit-taking, potentially triggering a retracement toward the Point of Control (POC)—the price range that has seen the highest volume during this ascent.
If such a pullback does occur, it could serve as an effective hedge for those who have realized significant gains during this impressive rally.
Trade active
Locked in around $186 for the short 
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.
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.