$PLTR Worst Case Targets $80 After Volume Gap Fill
Called the $Palantir Technologies Inc.(PLTR)$ trap weeks ago.
Stock is now down 15% from that breakout.
Here is what is happening.
We are in a bear cycle. The monthly chart confirms it.
In a bear cycle every bounce is a trap.
Retail sees a bottom. Institutions see an exit.
That bounce up to $170 I was watching did not even fully play out.
The rejection last month was not a good sign.
Worst case from here is another 30% down.
That puts price around $80 after filling the volume gap.
So what do we do?
We wait.
No buying. No bottom guessing. No being exit liquidity for the people selling into your confidence.
When our bull cycle criteria is met again we will look to buy at a significant discount.
Until then the trade is patience.
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