Palantir Technologies is a public American company that specializes in software platforms for big data analytics. It has transformed from a government contractor to a leading AI company, achieving remarkable growth and profitability while expanding its commercial presence.Looking at the Palantir chart from Elliott wave perspective, it’s probably trading in wave 3 of a five-wave bullish impulse after a broken base channel resistance line. It’s most likely eyeing all-time highs at 45 area with space for more gains. However, as soon as it breaks into all-time highs, watch out on wave 4 correction that can retest the base channel upper line as a support before the uptrend for wave 5 resumes.(Click on image to enlarge)
Basic Impulsive Bullish Pattern shows that Palantir is trading in wave 3 of a five-wave bullish impulsive cycle.
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