$PLTR - Same price, but with better time targets for options
This is basically the same setup i posted last night (early this morning) but fine tuned with an Inside Pitchfork instead of a Modified Schiff. I've also tried to math the EW targets with the fib time targets and the pitchfork targets.
That is to say, i've tried to get a confluence of all 3 types of analysis and reorganized my elliot wave path to land where these three analyses converge. The price targets haven't changed, but the time targets have been modified (usually extended) to give a move conservative layout which will hopefully be useful for options plays. For example in my previous model, the intermediate wave 3 is projected at a target of $39-$40 around Jan 12, where as with this updated model, we have the same price target but on Jan 21. This matches with the median of the new inside pitchfork, and with the 1 extension of the Fib time projection, as opposed to the 0.786 time projection of the previous model.
Im expecting a bounce from the 0.786 retracement, however there is always the possibility of a full retracement to the 100% level and a double bounce from $21. This happened with
WORK recently so it's not totally unexpected for a stock that just recently IPO'd and is undergoing its first impulse wave.
This is a better representation of how i intend to play it and is mostly here for my own records. I have Feb 19 $32 calls as well as some #yolo Feb 19 $50 calls. If price falls below $21 i will cut my (significant) losses and move on.
That is to say, i've tried to get a confluence of all 3 types of analysis and reorganized my elliot wave path to land where these three analyses converge. The price targets haven't changed, but the time targets have been modified (usually extended) to give a move conservative layout which will hopefully be useful for options plays. For example in my previous model, the intermediate wave 3 is projected at a target of $39-$40 around Jan 12, where as with this updated model, we have the same price target but on Jan 21. This matches with the median of the new inside pitchfork, and with the 1 extension of the Fib time projection, as opposed to the 0.786 time projection of the previous model.
Im expecting a bounce from the 0.786 retracement, however there is always the possibility of a full retracement to the 100% level and a double bounce from $21. This happened with
WORK recently so it's not totally unexpected for a stock that just recently IPO'd and is undergoing its first impulse wave. This is a better representation of how i intend to play it and is mostly here for my own records. I have Feb 19 $32 calls as well as some #yolo Feb 19 $50 calls. If price falls below $21 i will cut my (significant) losses and move on.
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.