$PLTR Palantir swing long into earnings
Updated
I just got an alert hit for a long trigger on PLTR.
Looks like we are breaking out on the Daily chart and earnings are in a couple of weeks. I know stocks that are actively talked about amongst traders usually run up into their earnings day.
I really like
PLTR long-term from a longterm standpoint, but for this swing idea i'm looking at the following
Looking to enter on a pull back to the breakout level, but really anywhere above $24.50 is game. Not shown on this chart but the 200 Day SMA is currently at 24.92, so that could be a good start. I'd say this idea is wrong if price closes 2-days in a row, below the 20 Day SMA before earnings.
I would sellPLTR before they release earnings, just play the swing up into their earnings date and take profit at the weekly and monthly resistance levels marked on the chart.
Good luck!
Looks like we are breaking out on the Daily chart and earnings are in a couple of weeks. I know stocks that are actively talked about amongst traders usually run up into their earnings day.
I really like
PLTR long-term from a longterm standpoint, but for this swing idea i'm looking at the following- Bullish options activity recently (Oct 19) (85% calls/bullish)
- Palantir CEO openly bullish on Bitcoin (“You’re supposed to just buy Bitcoin,” he said at a gathering hosted by the policy think tank Lincoln Network. “I feel like I’ve been underinvested in it.” )
- Bullish piece written about PLTR by InvestorPlace saying "It should only be a matter of time before Wall Street is ready to move PLTR stock higher."
- Price ran up after the last 2 earnings, so i expect traders are anticipating another run-up after these earnings.
- Bullish MACD and modest volume increase for the Daily breakout, see if that continues tomorrow.
Looking to enter on a pull back to the breakout level, but really anywhere above $24.50 is game. Not shown on this chart but the 200 Day SMA is currently at 24.92, so that could be a good start. I'd say this idea is wrong if price closes 2-days in a row, below the 20 Day SMA before earnings.
I would sell
PLTR before they release earnings, just play the swing up into their earnings date and take profit at the weekly and monthly resistance levels marked on the chart. Good luck!
Trade closed: target reached
Last profit target reached pre market (Nov 9). Hope you caught some of that :D
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