Since my last post here, $PLTR actually went down and rebounded from my second Fibonacci support level of 22.32 which is the 50% level. From here on, there is a bear case and bull case moving forward.
The bear case is that the stock price may continue to dip down to 21.11 which is the third Fibonacci support level of 21.11 at the 38.2% level.
The bull case is it continues to climb until it hits the next resistance level at 24.26.
The bear case seems stronger at this point due to the overall fundamental analysis regarding the upcoming volatility and also its RSI has not hit bottom yet. However do not discount the bull case as well if there are institutional investors who come in and buy the stock at its current price.
For me, i am still holding and will continue to do so as i have strong conviction in this stock.
should the bear case turn true, just buy put option at strike price of 21 to protect your holdings.
It is also a great price to buy more $PLTR at price of 21.11 .