PLTR - Nice entry setup to enter long position
I'm fairly new to technical analysis so take my opinion with a grain of salt, but I think the next 3-7 trading days are looking like a nice opportunity to catch a trend reversal. Palantir is a one of the most advanced big data analytics providers in the world with a 50/50 split between government and corporate customers. If you're very unfamiliar with this company, they just had their IPO within the last year despite being around for over a decade. IPO price was around $10 and was followed by a massive run up to about $45-ish. Since then the stock price has been in a downtrend, and is forming a descending triangle (should be broken in one direction within 2-3 weeks max).
Earnings are coming up in the first week of May.
One consensus in the market is that PLTR is difficult to value, due to the fact that it is not yet a profitable company. I'd say this poses a sizable amount of risk if planning to trade options, especially with Q1-2021 earnings on their way soon. As far as company news, there has been a steady stream of new, multiyear, contracts signed ranging from 10-100 million dollars over the past year and Q1 revenue is predicted to rise about 40% YOY. Some recent notables include IBM and a five year, 90million dollar, contract with a US government agency.
Earnings are coming up in the first week of May.
One consensus in the market is that PLTR is difficult to value, due to the fact that it is not yet a profitable company. I'd say this poses a sizable amount of risk if planning to trade options, especially with Q1-2021 earnings on their way soon. As far as company news, there has been a steady stream of new, multiyear, contracts signed ranging from 10-100 million dollars over the past year and Q1 revenue is predicted to rise about 40% YOY. Some recent notables include IBM and a five year, 90million dollar, contract with a US government agency.
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