PLTR short
1. The chart has a false break in late July with increasing supply which is a Change of Behavior. The reaction tells us that the upmove is done. Price now either consolidates in a trading range or reverse.
2. The recent rally has diminish volume characterictics.
3. Highlighted red bars show that supply is in the market. We see more red bar with high volume than the green ones.
For all these reasons, the trading range is likely distributional.
SL: We exit when we see a valid break above $17
TP: Parial cover at $13.4
Full exit at $10.5
2. The recent rally has diminish volume characterictics.
3. Highlighted red bars show that supply is in the market. We see more red bar with high volume than the green ones.
For all these reasons, the trading range is likely distributional.
SL: We exit when we see a valid break above $17
TP: Parial cover at $13.4
Full exit at $10.5
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