Palantir gave a phenomenal 30% jump yesterday on an earnings beat. Such massive jumps do not come because of new buyers stepping in but more because of short seller covering.

On a larger timeframe, the stock is hitting the top of weekly Ichimoku and we have divergences showing now from daily to 2W timeframe. Even corrective Elliot waves look incomplete.

Technically, the move is not looking sustainable and I expect the stock to reach around 85 levels.

Yesterday's god candle and high volume means we need to keep a tight stop loss which should be at 170$ levels on daily close candle.