PLTR break below support 29DEC202029DEC2020 saw a broader market sell-off, unsure if this was larger institutions securing end of year profits or market-wide correction from recent days exuberance.
Monday's market open saw an immediate meltdown and began this bearish channel and Tuesday saw us drip below our $25 support zone. The 9 day MA trading below the 20 day MA suggests to me that this bearish trend will continue in the short term. PLTR is currently bouncing off the lower band and against the upper boundary of my descending wedge, I think the next pop is going to be volatile. With RSI @ 36, we're not quite in the oversold territory. If at market open there's not a lot of buyers, I believe that we'll probably gap down to the $20-$22 range.
To counter my thesis, I'm just an idiot on the internet..... No no, but seriously, one thing to note is that post Xmas volume has been notably lower than our average daily volume; this bearish pattern could be quickly invalidated with some strong buy pressure.
Personally, I think the trend is pointing that we'll finish the year below $25. This doesn't really bother me much because in the near term we have 2 catalysts dates in January and hype leading up to their earnings call on the 11th of Feb.
By no means is this trading advice, I'm simply sharing my thoughts and opinions on the story I think the charts are telling us. I'm still a learning trader and welcome feedback and criticism, feel free to drop a comment.
PLTR
Possible PLTR short squeeze?On the 30 minute chart, the RSI is 29 indicating PLTR is oversold, the MACD is having a bullish divergence, Bollinger bands are still relatively tight, and volume on the downward move is very low meaning the downtrend is not yet confirmed. Any positive news could be a catalyst for a massive move to the upside. If not, we will likely see PLTR continue to fall to its nearest short-term support at around $21.
$PLTR Strap in. Massive bullish wedge.The previous symmetrical triangle isn't yet fully invalidated but may soon be invalidated if we don't go back into the range/if the dip is not bought.
1) If the symmetrical triangle gets invalidated we're in for the long run till march where a large bullish wedge is forming. This means we'll be trading within 21-24 max until march where a breakout to the mid/late 30's should happen.
2) If the symmetrical triangle holds, we could see 33-37 as early as January due to hype for the demo dates.
3) Earnings looks like they will be very close to 0. Due to some contracts gained and some contracts expiring for PLTR, the EPS looks like it will be between -0.20 and -0.10 due to ad campaigning expenditures. If this wasn't a thing, we'd be much closer to 0 earnings and maybe positive earnings.
Palantir will need at least 1-2 more quarters before significant earnings start coming in.
tldr: We're in for the long hold.
PLTR- Piling up lucrative contract and patnershipPLTR is long-term bullish, but I'm getting mixed signals in the short-term as VP structure looks bearish and the clear lack of confluence among some indicators
Looks like it could go either way until the volume kicks in decisively.
PLTR: Are there any serious reasons to panic?Hello traders and investors! Let’s talk about PLTR today!
The movement looks quite scary, but let’s see if there are reasons to worry. It seems PLTR is in the middle of a congestion, and the pink line at $ 25.08 is a support zone . As long as the price keeps above this line, I see no reason to worry.
Also, we had a clear Double Top at the green line ($ 29.40), and this is the next pivot point PLTR has to defeat in order to continue the bull trend. Let’s see the daily chart:
The daily chart suggests that we have a huge Pennant chart pattern , and usually, this is a continuation pattern. Also, the volume decreased, another characteristic of a Pennant.
Today, it seems PLTR just retested the 21 ema in the daily chart, and it is getting closer to the pink line at $ 25.08, and this is a natural movement, especially for a stock that is inside a congestion.
The bullish bias is still strong, and since PLTR is near a support level, I see this only as an opportunity to buy, as the Risk/Reward ratio is looking very good. But we must see some bullish patterns around here first.
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Thank you very much, have a great week!
PLTR headed for a run within next 4 weeks.....PLTR is headed for a run within the next 4 weeks.... with very little history and data the chart looks to have all its important support lines up high closer to is current pricing. After riding the top side of the BolBand's it has snapped down and up and appears to be coiling. the BB's are closing in for a pinch before years end.
Looking for PLTR to run to 34 by Jan 22nd 2021.
the move here is to buy shares and sell calls against those shares for premium bi weekly. keeping well safe of the growth line.
PLTR , PT 41Another stock that is stuck in a symmetric wedge or if I say pennant pattern also. For long play, once it breaks above the wedge, it can move to ~ 41. To protect losses for long play, the red solid line should be treated as a stop loss.
Also, it's holding 20MA (green line) which is giving it a bullish sentiment.
Disclaimer: I"m NOT a financial advisor. All trades idea are shared for educational purposes only. All advice is based on technical and my own opinion.
$PLTR - Demo date & Symmetrical Triangle - Bullish-7'th Jan is the first Demo date for one of the Palantir Products.
-11'th of Jan is the end of the symmetrical triangle we're trading in.
Symmetrical triangles are typically bullish.
Play #1: If Palantir is as strong as we think it is, there could be bullish hype buildup before the demo. Buy before the hype buildup and sell before or during Demo day to lock in easy profits. This way you avoid risk if the demo is not well received.
Play #2: Buy before demo day and hold through Demo day. If the demo is well received, you should receive extra profits by selling after the demo is complete during the same day or up to 1-2 days after the demo.
Based on past experience with bullish wedges, the bullish symmetrical triangle should indicate a breakout between the 5'th - 11'th. It's best to be in PLTR before that at a nice low average of 27-28. Anything more and you're looking at a short-mid term hold before you break-even.
