PNR High-risk Initial LongPNR High-risk Initial Long. SL and TP on the chart. 10-20x leverage. Move SL on TP.
Palantards
$PLTR - Bullish-ish but barely.Hi Ya'll,
First of all, this is not financial advice. It's my own DD that i use to trade. This ain't even very logical DD and is likely a pretty bad idea actually. Almost regretting it really.
I think PLTR is bullish, but just barely... There was a big sell off in February as shown by the OBV indicator and this means that PLTR has lost it's legs and previous support/resistances. It's entered a new trading range.
I think if PLTR is attacked by hedgies, it'll have a rough time staying above $20. If however hedgies and shorties aren't interested in PLTR, i think we can float at around $20 - $24.
My bet on PLTR is that due the previous sell-off, someone will actually buy PLTR shares at the end of the bullish wedge i'm indicating on the chart. Unfortunately even though i want this to happen, i think it's just a dream as wall street isn't very interested in buying PLTR with it's various tech related excuses, but i believe it's mostly because of how PLTR's shares are set up and how no external entity can have true ownership over PLTR no matter how many shares they buy. This is in PLTR's prospectus document.
Only Kathy Woods and retail might be interested in PLTR due to it's actual value, whilst the rest of wallstreet isn't really interested because it's not a company they can bet against also due to the huge share float of PLTR.
So yeah, PLTR barely bullish for me, just barely with a chance of shorts if they catch on and realize PLTR is prime for a quick one. I should probably be shorting it, but i'm not that kind of guy so. PLTR's OBV is somewhat terrible and has collapsed due to the large selloff by Cohen and others. I'm not sure this company can make it in the Public trading domain... and honestly i might actually just kill my buys... I don't know, i want to have hope but... yeah. Indicators not looking good for me and i'm not terribly confident in their ability to make a net profit yet cause they aren't making money...
Gonna be checking them out for the next few quarters and see if they improve with their ever increasing government contracts.
I have a large long buy position PLTR btw.
$PLTR - Mega Wedge UpdateHi ya all,
Yesterday i posted about 1 possible Mega Wedge, today i realized i may have made a mistake and that the wedge i posted yesterday could be completely wrong.
Yesterday's Mega Wedge is based on the trendlines drawn from the Jan 26 PLTR spike and this is likely very very WRONG. Why? Because i just realized that the reason why PLTR spiked on the ~26'th of January was only due to Gamestop. Hear me out before you click off...
Gamestop rallied insanely during the 26'th-28'th of January. This has a big effect on the Russel 2000 (IWM) ETF it's part of. PLTR whilst not truly part of any index as said by themselves in their own prospectus ACTUALLY does track the Russel 2000 (IWM) quite perfectly. Now because Gamestop rallied insanely during those dates, it dragged up the whole index up as a whole which also dragged up PLTR as well along with it. This means that the spike that i based yesterday's technical analysis on is an anomaly, e.g i based my mega wedge based on an anomaly hence why yesterday's mega wedge is possibly WRONG .
After realizing this mistake, i went and took a second look at the PLTR chart and realized that there still IS a wedge, a symmetrical one showing endless consolidation and accumulation at the $22-$29 area. Really, if you exclude the Jan 26-28 spikes, PLTR has truly actually traded only within this range for a very long time accumulating. Lots of institutions DID drop Palantir on earnings last month with new ones picking it up e.g Kathy Woods (Who despite Rumours is continuing to buy PLTR daily and has made big buys recently proof here: cathiesark.com )
The symmetric wedge ends on around May the 26'th. A breakout could come before or after this date or even not at all.
My bet is that a breakout will come at the end of this wedge and that the next price target should be a big one, but this is just my own opinion based on nothing and you shouldn't listen to me. I am invested in Gamestop and PLTR and i think the only reason PLTR will do so well in the near future is only due to Gamestop's big incoming gamma to short squeeze. No one knows when it's going to happen or whether it's going to be a singular event or a slow squeeze like Tesla. If it's a big event, it's going to make the Russel 2000 (IWM) and PLTR go up A LOT making PLTR a big winner for momentum and volatility traders. I have an appetite for risk and volatility so i'm in...
Regardless, i have a boatload of calls for May for Palantir that i'm likely going to roll over to a later date now that i've realized that nothing might happen by the end of May other than small ups and downs e.g theta-gang-ing for PLTR. Heck, i might sell some contracts for it and theta gang this thing.
$PLTR - Mega bullish wedge about to end...Hi ya all,
This is all my opinion and my own strategy. I'm not a financial advisor, just an ape that threw a bunch of money into PLTR based on this trade idea.
The 'Thesis'
See the mega bullish wedge that's been forming on GME for ages now. It also intersects with previous MEGA support possibly making the upswing date tomorrow or within this week. The idea is that the bullish wedge has possible ending points, one is tomorrow (within this week) and the other one ends on the 14'th of April, though it's possible for a breakout to start sooner and it often does (not with PLTR though, PLTR is always exactly on time).
Depending on your risk appetite, you can grab some PLTR shares now, or calls from now. Chances are, this is the bottom. If this is NOT the bottom, and in fact we have 20 more days to go to the end of the bullish wedge (i absolutely doubt it), then the bottom is ~$20-$21. A solid strat is to buy some now so you can be strapped onto the possible rocket and buy some later if it dips. Personally i've thrown a lot at it at $24.12 because i feel like we're not going to have a fakeout to $21 to shake some weak hands (pretty sure i'm going to be wrong on this one and i'm going to have to BTFD at $21 ish).
Basically pick one of the bullish wedges on the chart or both and make your bets. Shares are as always safer than calls. Don't forget PLTR's float is ~1.5 billion-ish shares and only a small fraction of those are bought.
I think this will ride to at least $39 with a max to $72 if market conditions during the next 30 days are not windy and with perfectly sunny weather. If weather is not great, we could see a simple run up to $35 and maybe max out at $39 and that'll be that.
I like to dream big, so i'm gonna say the range is $39 - $72 by sometime late April or maybe all the way into June, who bloody knows.
As usual i might be a chump and this could all be wrong. I'm literally trying to predict the future. Let's see how that works out for the boatload of super super far OTM contracts and 0 shares i bought.
Not revealing my positions not to expose them to bots and data miners. Sorry, but cry all you want. Believe it or not, there's lots of eyes watching.
