New Year New Palantir
Updated
Put your monitor vertically and the stars will align better. PLTR has a really nice bottom around 12/31 and 1/4. MACD shows the cross over and inflection well, while TTM squeeze captures the bottom better. On the daily time frame, MACD looking to crossover. On the 2hr time frame, PLTR is looking at a channel that is relatively within the Bollinger Bands.
Shorter time frame, I'm expecting a red day or sideways so I shorted calls via diagonals on March calls and leaps. Maybe a sell off will occur around Inauguration with the market overall, or around Demo Day. Buy the rumor sell the news, AAPL & AMD dipped on their big event days. I'm super long for PLTR's earnings around February 11th. Expecting drip drops here and there so I might hedge with a put. PLTR also has a very nice predictable pattern of rising on contract news, then selling off, and eventually ending red lmao it hurts.
Shorter time frame, I'm expecting a red day or sideways so I shorted calls via diagonals on March calls and leaps. Maybe a sell off will occur around Inauguration with the market overall, or around Demo Day. Buy the rumor sell the news, AAPL & AMD dipped on their big event days. I'm super long for PLTR's earnings around February 11th. Expecting drip drops here and there so I might hedge with a put. PLTR also has a very nice predictable pattern of rising on contract news, then selling off, and eventually ending red lmao it hurts.
Note
I wonder if it is wise to redraw the wedge/triangle/pennant lines. I had Initially drawn mine hoping for a bounce at 12/28 but we can clearly see PLTR breaking below support. I had to exit a trade because of that and I'm glad I did because in the next few days I would've eaten so much shit. I entered my March call on 12/29 cuz I saw that juicy histogram on the MACD 4hr time frame for $175. It proceeded to have a low of $69. They're sitting pretty now, but I sold calls against them while PLTR was down to make it hurt less. Wish I had found the TTM Squeeze earlier. As always, double check your time frames, the bigger the more right.Note
Playing around with where to put the trend lines exactly and which time frame, but $25.55 might be the lowest PLTR will go as of 1/21/2021. Slept in so couldn't get the sale ):Demo day will either make PLTR nutt or break trend and be depresso
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