Investors are closely watching high-flying technology and growth stocks like Palantir Technologies Inc. (NASDAQ: PLTR) and IonQ Inc. (NYSE: IONQ) as they pull back from recent highs, raising the question of whether they are approaching an ideal buying opportunity.

According to Chief Market Strategist at Fututrum Equities, Shay Boloor, patience is paramount, echoing the legendary philosophy of Warren Buffett, as these stocks may have further to fall before reaching a key technical support level.

Pullbacks Are Natural After Significant Rallies

In a recent social media post, Boloor noted that “Stocks always almost retest the 200-day MA” after significant rallies.

He warned against the “FOMO” that tempts investors to chase returns, emphasizing that pullbacks are natural. This thesis is now being tested across several names that have delivered staggering returns over the past year, including Robinhood Markets Inc. (NASDAQ: HOOD) and Rocket Lab Corp. (NASDAQ: RKLB).

Stocks almost always retest the 200-day MA. After big runs in $HOOD, $PLTR, $OKLO, $ASTS, $RKLB, $IONQ, $IREN & $NBIS, pullbacks to support are natural.FOMO tempts you to chase but markets come ...