PLTR pre-earnings play LONG
Updated
PLTR has earnings on February 5 while on the 120 minute chart, the price action is that of
a rising wedge with price compressing between a rising support trendline and a falling
resistance trendline the extension of the neckline of the head and shoulders pattern of
November. PLTR fell today and is near and above support. In a long trade, I see the target
as 18 ( at the resistance trendline) with a narrow stop loss just under the support trendline.
This makes for a possible 6% profit with a very good reward-to-risk ratio. A call option
for the 2/16 expiration striking $17 is also under immediate consideration.
a rising wedge with price compressing between a rising support trendline and a falling
resistance trendline the extension of the neckline of the head and shoulders pattern of
November. PLTR fell today and is near and above support. In a long trade, I see the target
as 18 ( at the resistance trendline) with a narrow stop loss just under the support trendline.
This makes for a possible 6% profit with a very good reward-to-risk ratio. A call option
for the 2/16 expiration striking $17 is also under immediate consideration.
Trade active
Link to Zoomed in time frame Trade active
PLTR fell on a down market day. Stopped out. Got back in at the lower pivot. Looking good in the premarket as is QQQ.Trade active
PLTR did a pullback in the morning and then popped. Added to the position strike 19for 2/9 expiration. Earnings open the week. chart snapshot here. bought the
bottom of the Bollinger band histograms ( midline/basis of the bands) Expect 200% on the options overall.
Trade active
Chart Zoomed to 15 minutes- Add when grayish lower BB bands top out, sell whenblueish upper BB top out; price is rising in an ascending channel to the earnings.
currently price is well inside the channel in its mid-portion.
Note
NQ futures forecasted a fall in the general market today. PLTR fell with it. Holding expectant of a rebound.Trade active
Great rebound. Went Parabolic. Options popped 350%. Looking for more butexpected a quick top and then some fade.
Trade active
No adds intended. ( Pigs get slaughtered). Watching for the backside slide.Trade active
Ten options closed. Awaiting more off the table if the candles but in longer wicksNote
Meltdown on MACD and RSI - other ten closed. On the watchlist for a short trade versus continuation rebound in the market afternoon.Trade active
Resumed a long trade of calls for $23 expiring at the March monthly. Price is nowabove the pivot high of November which is now support making for a safe entry.
Trade active
Call it chasing or call it prudent scaling in. PLTR has massive momentum. IT's a good ride. See this favorable review article fool.com/investing/2024/02/07/is-it-too-late-to-buy-palantir-stock/Trade active
Another upbeat review article. Bought a put option cheap OTM six months out forinsurance on the profits. seekingalpha.com/article/4667956-palantir-q4-the-nvidia-moment-approaches
Trade active
PLTR rose into a high tight flag to consolidate and get a rest. Traders' attention on other earnings plays. Still watchful for a pullback. Put option insurance is a slow grinding loss but worth the premium paid to protect the trade overall.Trade active
PLTR continues to run today. Zoomed in chart linked here. Scale on Y axis normalized to 100 to make percentage ranges easier to see. PLTR peaked at 6-7% and then faded to 3.54% no matter how you cut it with all the distractions in the market and lots of stocks competing to be bought PLTR did quite well. Running all positions full no partials taken yet.Trade active
PLTR revisited today the day of the NVDA crash chart linked hereOptions positions taken at green arrows and closed at red arrows on price line.
Also watched green fast RSI compared with slow red RSI line for golden and death
crosses and over under the 50 level.
PLTR has had a shallow retracement a sign of strength. It did not fall to the 0.5 Fib level. Price is presently in a perfect place, the anchored mean VWAP . This is where big players pick up or drop off shares. The highest volumes and volatility most opportunity for a momentum gain in one direction or the other. Big profit or big loss or hedge the trade in some manner. Strength is currently above 75 for the slower RSI and the fast RSI is sitting at support of the 50.
So both price and strength are " in the zone" . No matter than tech stocks are having a highly volatile month with the NVDA sell- off among others. It is mostly trader disappointment after listening to many hypes and a bit of earnings challenges et cetra.
I made a huge amount of money on PLTR and am happy to redeploy some of that into the next leg up. I think PLTR can rise and keep rising until its next earnings.
Others like CRWD and CRM and SNOW are worth a look. I am chasing software companies right now and trying to leave hardware /chips alone for the time being.
I say that watching a megachip factory being built down the street from another one that has been doing business for 20 years. Software is faster and easier to build infrastructure and I think has growth potential that is presently no able to be measured with classical metrics.
Enough said for now.
Trade closed: target reached
Could PATH be the next PLTR in its run to earnings?
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