$PLTR might go up to $57 after Q3 FY24 Earnings report?
NYSE:PLTR Palantir soared over 14.2% after Q3 FY24 earnings report:
• Net dollar retention 118% (+11pp Y/Y).
• Customers +39% Y/Y to 629.
• Revenue +30% Y/Y to 726M (22M beat).
• Non-GAAP EPS $0.10 ($0.01 beat)
. FY24 guidance:
• Revenue +26% Y/Y to 2.807B (+61M).
• Adjusted margin 38% (+3pp).
It will probably break above the resistance of previous high today.
But where will the price rise to?
To answer this question, we make comparisons with previous gap up candles which has broken above an important resistance level.
In Feb 05, it soared over 30% after Q3 FY23 earnings reports, and after that, it went up for another 25%.
In Sep 09, NYSE:PLTR soars over 14% toward record highs as the stock is set to be added to the S&P 500. And after that, it has risen for another 30%.
Therefore, it might go up to 57 if it break above the resistance of previous high today, according to similar historical price actions.
what's your opinion?
PLTR
PLTR Palantir Technologies Options Ahead of EarningsIf you haven`t bought PLTR before the major breakout:
Now analyzing the options chain and the chart patterns of PLTR Palantir Technologies prior to the earnings report this week,
I would consider purchasing the 42usd strike price Puts with
an expiration date of 2024-11-15,
for a premium of approximately $3.07.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
PLTR: Taking a fresh look. More bullish than before!PLTR chart has been bullish for a while and the recent price action looks very much like a wave 3 of some degree. This made me rethink my previous count that I was tracking as an expanding ending diagonal for wave 5 of c of various degrees of wave 5s to complete intermediate wave 1. But that started to look a bit unrealistic. Wave 5 was getting bigger than the 2x extension of waves 1 and 2.
Taking a second look to terminate intermediate wave 1 at the March high. This gives us a very short and shallow intermediate wave 2 correction ending in May. This makes the rest of the price action pretty bullish, even though the minute degree wave 2 of Minor degree wave 1 came in very deep. Let's ignore that situation, as it was very quick correction, and price has moved very quickly and very far without any major dips since. And if this bullish count is correct, then price should not come down to orange line $33.13 until minute degree waves 3, 4 and 5 are complete. Price should hit a few all-time highs to around $60 area before we see a sizable dip. However, that dip should not violate the red line at $20.65. If all goes well, the huge wave 3 of 3 will start that should take the price to the moon.
This count is wrong if price goes below $33.13 before the 5-wave minute degree sequence is complete. I will go back to my previous, now somewhat awkward looking count to end intermediate 1 brace for a much bigger wave 2.
I CALLED THE $PLTR TOP! Down 8% since. Here's where we are goingNYSE:PLTR
CALLED THE NYSE:PLTR TOP AS WELL! Down -8% since. Here's where we are going
The thesis explained below:
1.) Williams R% had a down slop if you drew a line from the 01JUL2024 top to the most recent 21OCT2024 top. It hit this top 4 times since the first one and everyone was lower indicating resistance and lower tops.
2.) You have a Multi-year CUP on the weekly without a handle formed. We need to form that handle before we go higher that coupled with valuation and the stock price getting ahead of the company's numbers is another reason that plays into this.
3.) The handle would be a perfect little handle with a Volume profile gap fill down to the next volume shelf at $36.50-$37.50.
4.) RSI was in overbought area and finding multiple tops with resistance. Also, it was hitting and rejecting off the same top as previous ATH's back in Jan2021.
5.) Double top on the stochastic and red through yellow downward.
6.) Just shows the date I called it out which was Sunday. Also, time stamped on my repost here. 😁
Thanks for reading! I hope you enjoyed my reanalysis of a thus far predicted pullback. It may not hit my target but that's not the point. The point is being able to realize when something is lining up to turn against you or turn with you to the upside. Also, to realize the fakeouts in the market like what I believe the pullback is on the NASDAQ:QQQ which I made an in depth video going into depth about just like this one. It's pinned on my profile if you haven't seen it yet.
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Palantir ($PLTR) IT MIGHT FINALLY BE TIME FOR A PULLBACK! 5 RY:NYSE:PLTR IT MIGHT FINALLY BE TIME FOR A PULLBACK!
Retail investors don't hate me for this. I'm a shareholder, too! DIP BUY INBOUND?!
5 REASONS WHY:
1⃣ We have DIVERGENCE on the Weekly Chart
2⃣ We have Volume Profile Gap Down
3⃣ It's a TRIM according to my Valuation Metric Tool (0/6 score)
4⃣ Top 5 gainer in AMEX:SPY
5⃣ Have a SIP and find out by watching. 👇
Stay tuned for more!🔔
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Will Palantir finally have a pullback? What price would you like to load up on more shares?
Not financial advice.
Palantir Validated a Liquidity Zone, Whats Next? If you saw my previous structural analysis, I had mentioned that Palantir was going to hit an institutional liquidity zone, and for the first time in several years, using common sense, the price was going to face rejection.
And that’s exactly what happened...
The price hit my point of interest and dropped for 3 days. However, the last candle with which we closed the week was green and had enough volume.
Why is this? If we can see 2 candles before the close, we can detect a trap that created a long wick downward, preventing the price from falling further. That’s the detail we're seeing before the week’s close—the last candle was bullish. We also can’t ignore that Palantir is only about 2 weeks away from its earnings report.
So, I don’t think the price will make a decisive move just yet, and even if it falls further, it would likely be around 38.50. However, the earnings strategy that traders are waiting for, where Palantir accumulates and begins to rise, is very close. So, we need to be very alert as we approach its earnings report on November 4th.
Best regards, and thank you for supporting my analysis.
Palantir at a Critical Turning Point – Big Moves on the HorizonAlright, here’s the deal with PLTR. I’ve been keeping a close eye on it, and right now, it feels like we’re standing at a fork in the trail—one direction leads to a nice payday, the other to a bit of backtracking. The next couple of moves will tell us which way we’re headed.
We’re hovering around 42.75 right now, and if we can break above that with some force, 43.91 is my first target—good spot to lock in some profits. But here’s the thing: if we can clear 44, that’s where the real fun begins. That’s the confirmation we’re looking for, and from there, I think this could open up a much bigger move.
On the other hand, if 41.65 doesn’t hold, things could get a bit rocky. I’ll be looking for price to drift down into the 41.28 - 41.00 range. Not ideal, but hey, markets don’t move in straight lines. That’s where I’ll watch for buyers to step back in and give us another shot at the upside.
The key here is patience. If we get the breakout, I’m ready to ride the wave. If we pull back, no sweat—I’m not in the business of chasing trades. You gotta play this game cool, stick to the levels, and wait for the setup to come to you. No need to rush it.
It’s kind of like hiking. Sometimes the first path up the hill looks tempting, but the trail turns steep, and you gotta fall back to find a better route. But when you do find that clean path—man, the view is worth the wait. That’s exactly what this trade feels like. If we clear 44, we’ve got some clear skies ahead, and I’ll be ready for the ride. But if not, I’m content to step back and wait for the next chance to make my move.
Let’s see where this takes us—either way, it’s gonna be an interesting climb.
Mindbloome trader
ANALIZING PALANTIR ITS JUST COMMON SENSE... BUT BE VERY CAREFULLLet’s welcome Palantir (PLTR) into the weekend analysis!
As we can see in the chart, today I wanted to do general structure analysis not too specific, as we are practically touching the highest level again in nearly 4 years.
Congratulations to all who bought at $12–16 per share and are still holding Palantir, but as I show in the chart, from point A to point B, it took almost 4 years to reach these levels again.
But here’s my question: WHAT WOULD YOU DO IF YOU BOUGHT AROUND $40 IN 2021?
I’d love to know, as this situation can greatly influence each person’s psychology when making a fundamental decision in trading.
(LEAVE YOUR OPINION IN THE COMMENTS)
I want you to know that I don’t just focus on price analysis. I also study company valuation. Based on a fundamental analysis of its balance sheet and recent moves by PLTR, I’ve concluded that Palantir is currently 171% above its intrinsic value.
In my personal opinion, my decision leans more toward common sense…
What do I mean?
1. Palantir is 171% overvalued.
2. Palantir is diluting its investors like crazy! In every quarterly report.
Do you know what dilution is?
Stock dilution can be harmful to shareholders because the value of each share is reduced, even though the investor holds the same number of shares. This is because the total value of the company doesn’t increase proportionally with the number of shares.
Palantir is an excellent company, although it’s a bit complicated to understand what they do and how they make money. But in my personal opinion, a company that dilutes its investors is nothing but a red flag to me—and a big red flag—because I call this the silent killer for investors.
At this point, PLTR is more on the hype side!
If Palantir reports well in November, we could see the stock above $50 per share, BUT if Palantir reports anything that doesn’t meet investor expectations, any data that falls short… Buckle up!
But how much could it fall? The truth is, I don’t know. But if we base it on technical analysis, I have an important inflection point (purple zone) where I expect the price to bounce after a sharp drop. BUT CAUTION! Only if Palantir doesn’t meet expectations.
An inflection point in trading refers to a critical moment on a price chart where the trend or price direction is expected to change. It marks the transition from one phase of price movement to another, often signaling a turning point in market sentiment or momentum. Traders pay close attention to inflection points as they may indicate a radical trend shift.
Traders use these points to adjust their strategies, such as entering or exiting positions, to capitalize on the expected change in price direction.
BUT WHAT WILL REALLY HAPPEN? I don’t know, maybe this time it will be different—who knows? But the only thing I can tell you is that numbers don’t lie, and neither does price action.
So, I hope the decision you make is the right one!
Thank you for supporting this analysis.
Sending you my best regards!
PLTR: Watch out for these turning points! (D&W charts)PLTR broke through the resistance at $38 that we warned about in our last study, triggering another bullish continuation pattern. It has also broken through an important resistance on the weekly chart, which further reinforces the bullish bias.
Now we have to update the main turning points to keep an eye on over the next few days. The link to our previous study is below this post, as usual.
Daily Chart (Left):
Higher Highs and Higher Lows: The price structure on the daily chart shows a consistent pattern of higher highs and higher lows, suggesting strong bullish momentum. This pattern indicates that buyers are stepping in at higher levels after each retracement, maintaining the trend.
Support Levels: Immediate support is found around $38.30, which aligns with a previous minor resistance zone that was broken and turned into support. Below that, $36.05 remains a significant support level, as it is near tthe 21-day EMA, making this a double support area. PLTR needs to lose this key point in order to reverse the mid-term trend and trigger a sharper correction in the weekly chart. PLTR would need to lose the double support level seen on the daily chart is order to trigger a pullback.
Gap at $31.04 (D) + 21-Week EMA: These two key points would act as targetts if a sharper correction materializes. The gap at $31.04 seen on the daily chart could work as a magnet, attracting the price to lower levels, while the 21-week EMA is another reliable support level on the weekly chart.
Weekly Chart (Right):
Ascending Channel: PLTR has been trading within an ascending channel since mid-2023, respecting both the upper and lower trendlines. The price broke the upper boundary of this channel, indicating a potential acceleration of the bullish momentum towards its next target.
All-Time High Target: The all-time high for PLTR is around $45.00, and it is its next resistance level, meaning, it is our next target.
Conclusion:
PLTR’s bullish momentum is well-supported on both the daily and weekly charts. The price is maintaining a solid structure of higher highs and lows, with $36.05 acting as the nearest support and $41.00 as the immediate resistance. If the price manages to break through $41.00 convincingly, the all-time high at $45.00 could be tested. A sustained breakout above the ascending channel on the weekly chart would further confirm the continuation of the uptrend. Traders might consider waiting for a confirmed breakout above $41.00 or watching for a potential pullback to $36.05 as a safer entry point.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
PALANTIR Sell signal at the top of the 15-month Channel Up.Palantir (PLTR) gave us a solid buy signal 3 months ago (June 24, see chart below) as it respected the recurring bottom sequences within the 15-month Channel Up:
Right now the price has been consolidating after a direct hit at the top (Higher Highs trend-line) of the Channel Up. The 1D RSI got overbought and started pulling-back on a standard Bearish Divergence, a formation which three time within this pattern turned-out to be a solid sell signal.
The dashed Channel Up gives us a short-term Target on its bottom, which is where the 1D MA50 (blue trend-line) is trading at and is the short-term Support. That is our Target currently (Target 1 = 34.50).
If and only if, we close a 1D candle below the 1D MA50, we will open a new sell, as it will be a bearish break-out signal. In that case, we will target a potential near contact with the 1D MA200 (orange trend-line), which is the long-term Support and where the remarkable buy entries of August 05 and January 31 were provided (Target 2 = 29.50).
Keep in mind that the most optimal buy entry for the long-term (since May 2023) has been given by the 1D RSI and more specifically when it hits its Support Zone. We will continue to place buy long-term buys accordingly.
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PLTR signals reversal is close byPLTR gaps below upward trend line showing last few days as a false breakout with price exhaustion
horizontal support forms. Once PLTR breaks below this and holds, more selling to come
RSI pushes below SMA showing validation with the move.
Volume increasing on the gap also giving validation to the recent move down
We should start to see more weakness in the stock going forward for a little bit.
PLTR signals over boughtPLTR breaks above its upward trend signaling that it is over bought and poised for a possible reversal
When stock is trending upwards steadily, seeing it break above its upward trend is a sign of price exhaustion
when this occurs we usually a experience a reversal shortly after
sometimes stocks going really far into overbought zones before finally turning around.
We see the last 2 hours of trading, the stock started selling off when smart money was in control indicating that the stock was too expensive
Palantir Stock Set to Join S&P 500 Amid AI MomentumPalantir Technologies (NYSE: NYSE:PLTR ) has been at the forefront of discussions among bulls and bears alike. With its inclusion in the S&P 500, the company's strides in artificial intelligence (AI) are now drawing more attention than ever. On the one hand, bulls point to improved profitability and its AI potential, while bears remain skeptical about whether the company's revenue growth will reaccelerate to justify its valuation.
Palantir’s AI Expansion
Palantir’s data analytics software has long been integral to government operations, particularly in intelligence gathering, counterterrorism, and military missions. However, in 2023, Palantir set its sights on the commercial sector, aiming to use its Artificial Intelligence Platform (AIP) to drive growth beyond government contracts.
The company's AIP is gaining traction. At its fifth AIP conference, over 100 organizations demonstrated their AI use cases, covering industries ranging from railroads to healthcare. Despite this momentum, some analysts express concerns over Palantir's high valuation, trading at 24 times 2025 estimated revenue. Bulls, however, see the potential of AI products to bring long-term growth, particularly with the company's recent defense contracts.
Palantir’s success in AI also extends to government projects. The extension of its Project Maven contract by the U.S. Army brings in about $90 million annually, and the Department of Defense's AI office awarded Palantir a five-year contract worth $480 million. Additionally, Palantir’s $178 million contract for Project TITAN showcases its role in the future of battlefield AI.
The company’s fundamentals remain strong, despite a deceleration in revenue growth. In 2023, Palantir grew its revenue by 17% year-over-year to $2.23 billion. The company generates around 60% of its revenue from government agencies, but with the commercial AI push, this balance may shift over time. It remains to be seen whether Palantir can continue to capitalize on its AI expertise in both sectors.
Technical Outlook
On the technical front, Palantir stock has been on a tear in 2024, up 107% year-to-date. Over the past three months, NYSE:PLTR has formed a bullish reversal pattern, surging from its lows and gaining strong momentum as it approaches its S&P 500 inclusion on September 23. This event is expected to further drive institutional interest in the stock as mutual funds and large investors will be required to hold shares.
Palantir’s Relative Strength Index (RSI) stands at 72, indicating that the stock is in overbought territory. Despite this, the stock's bullish momentum shows no signs of stopping. On the daily price chart, a bullish harami pattern has emerged, signaling potential continuation of the uptrend.
The next key resistance level is set at $42, a target that aligns with the highs from June 2021. If Palantir can break through this resistance, the stock could set new all-time highs. However, with the RSI in overbought territory, a short-term pullback is also possible as investors take profits.
Palantir’s Accumulation/Distribution Rating of A reflects strong institutional buying over the past 13 weeks, further bolstered by its Composite Rating of 99 out of 99, signifying its overall strength in the market.
Conclusion
With Palantir set to join the S&P 500 and its AI ambitions expanding, the stock presents a compelling case for long-term investors. While valuation concerns linger, Palantir’s government contracts and AI-driven commercial growth provide a foundation for further upside. Technically, the stock is in a bullish reversal with momentum pushing towards a $42 target. However, investors should keep an eye on the overbought RSI and be prepared for possible short-term corrections.
Palantir remains a stock to watch, blending AI innovation with solid government partnerships to maintain its place as a leader in both sectors.
PLTR trades on the high end of its rangePLTR shows the recent rally could be reversing soon
Currently trades high within its range
If stock breaks above its upward trend that would be a great time to get out
Volume consistently decreases as price increases, this create disagreement in the trend
RSI also shows divergence by declining as the price increases
We should expect PLTR to sell back down to lower point staying within its trading range to the low $30 range.
PLTR suffered a false breakout abovePLTR had a false breakout before moving back into congestion zone and breaking below its internal upward trend
False breakout leading to pullback into trading zone
broke through internal upward trend
low volume during this time indicates congestion.
Potentially looking at a pullback in time before more rallying continues
PLTR is certainly a great stock and recently getting into S&P 500 just adds to it.
SMCI to get back up to 1000$ ?SMCI has an awfully similar chart to PLTR, both of them hit all time highs, and then crashed. Smci is now at its all time lows and is going to stay there for a bit. PLTR on the other hand, did hit an all time high and also fell. But, it has recovered and is on track to hit all time highs again. I think that SMCI is going to trace the chart of PLTR and go back to around 1000$-900$. Both companies had a big boom and at the top, were overvalued, and came crashing down. NVDA might be experiencing the same.
PLTR takes profit after gap upPLTR received some wonderful news lately and surged to dramatic highs very quickly
Gapped up then rallied during yesterday trading before settling off
Expected selloff is starting as hype wears off.
We should expect to see more selling off in the near term before stock settles
PLTR remains in the bullish zone so far. We are starting to see more weakness in risky tech assets forming. So expanding on long term bullish positions should be done cautiously.
Palantir ($PLTR) | The AI Revolution's PowerhouseNYSE:PLTR
Palantir is no longer just a secretive "voodoo blackbox" company; its inclusion in the S&P 500 and its critical role in AI and data-driven government and commercial solutions have solidified its place as a dominant player in the AI software space. Known for its massive government contracts and deeply integrated AI systems like Gotham, Foundry, and Ontology, Palantir is a key asset in the ongoing AI revolution.
The AI Narrative: With AI continuing to reshape industries, Palantir sits at the intersection of AI and data integration, holding massive potential for the future. The company’s success will ride on government and commercial AI adoption, as well as the expansion of its key platforms.
The Setup: While we have scooped up initial entries between $7.50-$10 with multiple secondary entries on the way up, there will be more. This is a high conviction long-term play for the next decade. This is a top buy the dip stock.
Key Buy Zones: Any pullbacks to $30, $28, or $21.79 are optimal entry zones for long-term investors. If a government shutdown occurs, it could provide a rare buying opportunity as it would freeze spending temporarily, a catalyst that could help us get in lower before the inevitable resumption of contracts.
Long-Term Conviction: Palantir has proved that it's more than capable of scaling in the public sector and AI enterprise. This is a top-tier DCA (Dollar Cost Averaging) candidate, especially for those wanting exposure to the AI sector. We are confident that PLTR will never return to the teens again. Look to build positions on pullbacks for long-term holds.
The Targets:
$37 : Needs to break over this level to confirm continuation of strength, after which we would be looking for a retest of trend support from November 2022 ($28-$30).
$45+ : Long-term target by next year. With sustained strength in AI, the stock could exceed this.
$70 : Major long-term target.
Palantir is in a prime position to capitalize on AI’s growth trajectory. With strong AI software, deep government contracts, and powerful platforms in the commercial sector, PLTR is a multi-year hold with high upside. Investors should focus on accumulating during pullbacks, as this stock is one of the rare opportunities to ride the AI wave long-term.
Palantir ($PLTR) Stock Surges on S&P 500 InclusionPalantir Technologies, Inc. ( NYSE:PLTR ), a leading AI-powered data analytics company, saw its stock soar in premarket trading on Monday. This rally comes on the back of two key developments: Palantir’s upcoming inclusion in the S&P 500 Index and a newly extended strategic partnership with bp, introducing cutting-edge AI capabilities. Here's a deeper dive into the technical and fundamental aspects driving Palantir’s recent surge.
S&P 500 Inclusion and BP Partnership
S&P 500 Inclusion: A Major Milestone
Palantir’s addition to the S&P 500 Index is set to take effect on September 23. The S&P 500 is widely considered the best gauge of large-cap U.S. equities, comprising 500 leading companies that represent about 80% of the total market capitalization. Meeting the eligibility criteria for S&P 500 inclusion—a market cap of at least $15.8 billion, adequate trading volume, and primary listing on a U.S. exchange—marks a significant validation of Palantir's growing influence and profitability.
Inclusion in the S&P 500 is a major positive for Palantir, as it will prompt index-tracking funds and ETFs to buy shares, thereby boosting volume and liquidity. Historically, stocks added to major indices see a surge in buying activity, as funds need to replicate the index composition. According to Wedbush analyst Daniel Ives, this move significantly bolsters Palantir’s profitability profile, further validating the company's growth trajectory.
Strategic Partnership with BP: Extending a Decade of Innovation
Palantir also announced an extended enterprise agreement with bp, strengthening a decade-long strategic relationship with the introduction of new AI capabilities powered by Palantir’s AIP software. This partnership will continue to leverage Palantir’s industry-leading digital twin technology, which integrates real-time data from over 2 million sensors into a unified operating picture. This collaboration has been pivotal in enhancing efficiency across bp’s oil and gas production, driving operational improvements through sophisticated digital simulations.
The new AIP software will allow bp to safely utilize large language models (LLMs) for decision-making support, offering real-time suggestions based on comprehensive data analysis. Palantir’s robust infrastructure and transparent AI deployment aim to ensure reliable operations while safeguarding against potential AI errors. This partnership exemplifies Palantir's commitment to enhancing industrial efficiencies through AI, solidifying its role in bp's ongoing digital transformation.
Bullish Momentum with Key Support and Resistance Levels
Technically, Palantir’s stock shows a strong bullish momentum. As of the latest data, NYSE:PLTR is up 8.16% with an RSI of approximately 67, suggesting it is approaching overbought territory. Despite this, the stock’s positioning above key moving averages—the 50-day, 100-day, and 200-day MAs—indicates a continuous bullish pattern, signaling strong upward momentum.
Key Support and Resistance Levels
Palantir’s technical landscape features important price levels that investors should monitor. Key support is seen around $28.50, where the stock previously found a solid base before its recent surge. On the upside, resistance is expected near $35, a psychological level that could see profit-taking by short-term traders. A break above this resistance could trigger further gains, especially if the stock maintains its position above key moving averages.
Volume and Liquidity Surge
The inclusion in the S&P 500 is expected to boost trading volume and liquidity for Palantir, as index funds align their portfolios with the new composition. Increased volume typically enhances price stability and reduces bid-ask spreads, making the stock more attractive to a broader range of investors.
Conclusion:
Palantir’s inclusion in the S&P 500 and its strengthened partnership with bp highlight the company’s ongoing growth and strategic positioning in the AI and data analytics sectors. Fundamentally, these developments validate Palantir’s business model and market potential, while the technical indicators point towards sustained bullish momentum.
However, investors should remain cautious of overbought signals and monitor key support and resistance levels. Palantir’s story is one of innovation and adaptation, making it a compelling long-term play as the company continues to expand its influence across industries through strategic collaborations and technological advancements.
With its AI capabilities poised to revolutionize data analytics, Palantir remains a stock to watch closely as it continues to carve out its place among the giants of the S&P 500.
Palantire on the way to $30Palantire is on the way to $30. The current pull back is good opportunity to join in the journey.
PLTR 60% UP ? S&P EntryPLTR long term profit ? Entry notice to the S&P index + Cup & Handle pattern + Above the average line 150. Only an idea and not a recommendation for trading!
PLTR: Will SP500 entry boost stock price to target?PLTR ending diagonal is taking time and stretching out. The last few weeks have been forming a bull flag and now the news of SP500 entry is poised to push the share price higher. On an expanding diagonal, wave 5 is expected to be longer than wave 3. So, the price target puts it to over $40 or higher. My plan hasn't changed. My long term load target will come after the intermediate degree wave 1 is complete. Short term, I am looking for a long entry to catch the next wave. Broader market is getting pretty weak, so, a bounce is expected. PLTR will most likely take the crown during that bounce.
Technical Analysis on Palantir Technologies Inc (PLTR)Palantir ( PLTR ) is currently in a short-term bullish phase, as indicated by the green trendline, which began in May 2023 with the breakout of the descending trendline (orange) accompanied by a gap up and increasing volume.
The stock has recently broken above the resistance zone R1, which it is currently retesting.
Bullish Scenario:
A short-term bullish scenario would see a move toward the next resistance level R2 in the $38-$40 area.
Bearish Scenario:
If the retest of resistance R1 fails, the stock could move towards the support areas, where potential entries could be considered if one anticipates a rebound:
The POC area around $24;
The weekly support S1;
The weekly support S2.
The support zones S2 and S1 are more clearly visible on a monthly timeframe:
