PLTR deep dive on potential short

3 окт.

PLTR I have marked the last previous zones for the major corrections. The average correction has been in the 27% range with about 16 weeks between each correction. Given my prior statement about setting up a short around 40$, this is in alignment with the plan. I have added a demand box which is a monthly zone, drawn optimistically. The weekly stochastic is very overheated here, the daily is pointing upward. This leads me to believe we see this overheat in the coming weeks before a major correction. The stock has run way from the moving averages pretty heavily and rides the top of Bollinger bands.

My plan:

40$ is the fib zone I have been eyeing, this is also a strong psychological level
The RSI will top around then as well and using price and range statistics I will predict this around the 16th week with around a 25-28% correction to the demand zone drawn. I will buy long put spreads that are fairly aggressive likely Dec or Jan