$Palantir Technologies Inc.(PLTR)$ 's Shooting Star: A 15% Drop and Counting
Palantir Technologies has become a regular feature in the Weekly Compass (2X per week). The shooting star pattern I highlighted in December proved to be a key bearish signal.
Why? The weekly RSI was at an extreme 87, a major overbought level. Since the appearance of this pattern, the stock has declined 15%, and it's down 20% from its all-time high.
Technical indicators don't matter until they do, and in this case, the signal was spot-on.
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