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PLTR

PLTR Has Reached Key Upside Levels: Tighten StopsPrimary Chart : Palantir Technologies Inc. NYSE:PLTR on a daily time frame with key Fibonacci Levels drawn as well as support, resistance, the 21-day EMA, and a critical VWAP from the bear-market lows of December 2022 Palantir Technologies Inc. NYSE:PLTR , once a tech darling of the 2020-2021 bull market in equities, has achieved a substantial retracement now of its vicious 2021-2022 bear-market decline. PLTR has been a popular stock ever since going public via a direct public offering, the same type of registered share offering used by NYSE:SPOT and Slack Technologies, LLC, which is now owned by Salesforce. PLTR provides data-analysis and AI technologies to large government agencies, including defense agencies and branches of the military, as well as large corporations. Despite periods of consolidation—especially from August 1, 2023, to November 1, 2023, PLTR has been in a primary-degree uptrend since its bear market low on December 27, 2022. The uptrend has been mostly strong and supported by the volume-weighted average price anchored to the bear-market low (green), which is shown on the Primary Chart above. Price has also run into a major long-term Fibonacci level at $20.74. This level is also shown on the Primary Chart in gold. Using a logarithmic scale, this Fibonacci level at $20.74 is a 61.8% retracement of the all-time high to the December 2022 low. Above this level suggests more upside. Below this level suggests either (i) consolidation, or (ii) resumption of the downtrend (if key long-term support levels break decisively). When plotted on a linear chart, PLTR has also reached (and stalled at) a critical Fibonacci retracement of its entire bear-market decline. This .382 Fibonacci retracement at $20.85 is often where bull flags or bear flags consolidate within a given trend. Some might view this level as a decisive level for the bbear case given that 38.2% of the bear-market decline has been retraced, and therefore, rising above this level would suggest the uptrend has further to climb (e.g., $25.46 at the 50% retracement shown in green below). So this level at $20.74 / $20.85 (whether viewed as a .618 Fibonacci retracement or a .382 Fibonacci retracement) is crucial to monitor. Supplementary Chart A This post argues that the primary uptrend looks as though it has become extended. Does this mean the high has been reached for the this particular uptrend? It's not wise to call the end of a primary trend until technical confirmation has occurred. Picking a long-term high is nearly impossible. The negative divergences on weekly and daily time frames are shown in the following charts: Supplementary Chart B Supplementary Chart C Supplementary Chart D Supplementary Chart E Supplementary Chart F So momentum has definitely slowed in this AI / tech / data-analysis name, and negative (bearish) divergences have arisen. At a minimum, this could signal a period of consolidation lies ahead in the first half (1H) of 2024. The supplementary charts show the divergences one should watch carefully. This may provide a reason for bullish position traders and investors to tighten stops. And if key levels snap decisively, such as the $16.36 level or the August 2023 supports at $13.68 or the VWAP (green) from December 2022, then watch for a retest or break of lows.
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by SquishTrade
24
I'm Bullish. Here's WhyHi Traders, PLTR is oversold on the 2HR, 4HR, and daily charts and has nearly completed a corrective wave. This corrective wave is denoted by the yellow ABC pattern (also known as a Zig Zag pattern) in Elliot Wave analysis. The Wave Trend indicator is extremely oversold since the signal is far below the green boundary as shown on the chart. I anticipate PLTR will close the small gap around the $14.96-$15.94 area, which is also a BULLISH demand zone and a trend support zone. I've decided to use this area as an entry zone. Once price is in this area, consider a bullish position targeting $17. If PLTR closes above $17, target $18.64 based on harmonic pattern analysis, which currently indicates a bullish Gartley. Here's my bullish case, strictly using Technical Analysis: Harmonics PLTR is showing three bullish harmonic patterns (Gartley, Black Swan, and Anti-Nen Star). I'd like to focus on the gartley pattern, which statistically has a 75% likelihood in reaching T1 ($18.66). In the chart below, you can also see the oversold RSI at a value of 28.74 Price Action There is a bearish order block around the $14.75 as denoted in the chart below. Bearish traders sold PLTR back in NOV 23, but PLTR didn't decline further in price. Instead, it gapped up, which indicates Bearish traders exhausted their selling power and will likely be eager to close their positions by buying PLTR at this price point, thereby constituting a bullish demand zone. Trends Trend resistance is $16.98 with trend support at $14.40 as denoted by the trend lines on the chart below. The 200 period moving average (yellow line) is $14.80, which coincides with trend line support, gap analysis, and price action order blocks. I consider this strong support for now. The 9 period (purple line) 21 period (blue line) moving averages act as resistance (for now) and are $16.74 and $17.31 respectively. Both coincide with trend resistance at $16.98. The chart also shows positive divergence on the VMMACD and MACD indicators. Trading Plan I trade options, and while I do own several hundred shares of PLTR, I generate income by selling CALL and PUT options based on the volatility (i.e. price swings) of PLTR. Since I anticipate PLTR is nearing a LOW, I will likely sell several $14 or $15 PUTs option with a 45 DTE (Date Till Expiration) to collect premium. When PLTR reaches my upside targets, I will sell COVERED CALL options (maybe $18 or $19 strikes) to collect premium, because I know that these upside targets act as supply zones (i.e resistance) and price may decline from these areas. Happy Trading!
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by chiefwils0n
4
$PLTR Weekly Chart Fundamentals + AlgorithmsFundamentals + Algorithms Revenue growth: While not explosive, PLTR has shown consistent revenue growth, exceeding 40% year-over-year in recent quarters. However, investor expectations and valuation were initially set much higher, contributing to the recent stock price decline. Profitability challenges: PLTR currently operates at a significant net loss, raising concerns about its ability to become sustainably profitable in the near future. This further adds to the uncertainty surrounding its valuation. Cash-rich position: On the positive side, PLTR boasts a strong balance sheet with no debt and ample cash reserves, providing it with the flexibility to make strategic investments and navigate potential cash flow disruptions.
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by AlgoTradeAlert
PLTR looking for a breakout1. Price Performance: NYSE:PLTR has demonstrated a consistent upward trend, yielding over 10% gains since September lows. Notably, the stock has established higher lows, indicating a potential bullish trajectory. 2. Technical Analysis: The stock is currently approaching a key point, poised to break out of a triangular formation. Safe traders may opt to await confirmation through a breakout, while risk-tolerant investors may consider entering early. 3. Technical Indicators: A significant bullish signal is evident with a recent MACD crossover, aligning with positive trends observed in historical data. By combining these factors, NYSE:PLTR presents an intriguing opportunity for investors, with both the price action and technical indicators suggesting a favorable outlook.
PLong
by sajalgoelin
3
Stock of the Month: Vertex (VRTX)Our portfolio is up by more than 15% in the month of November. We are strictly following Mark Minervini's Trading Methodology. Here is a quick summary: Mark Minervini's trading methodology, often encapsulated in his SEPA (Specific Entry Point Analysis) system, is a comprehensive approach to trading that emphasizes the importance of timing, risk management, and stock selection. Here’s a concise summary: Trend Template: Minervini looks for stocks in a strong uptrend, using specific criteria for moving averages and price action to determine the health of the trend. Volatility Contraction Pattern (VCP): He identifies stocks undergoing a VCP, a series of tightening price consolidations which often precede a significant breakout. Risk Management: He sets strict stop-loss orders to limit potential losses, often using a maximum risk threshold per trade to manage overall portfolio risk. Buy Points: Minervini waits for a proper pivot point before entering a trade, ensuring the stock is moving on high volume out of a sound base pattern. Leadership: Preference is given to market leaders, stocks that outperform the market with strong earnings growth, sales, return on equity, and profit margins. Market Direction: He trades in harmony with the overall market direction, increasing exposure during bull markets and preserving capital during bear markets. By focusing on these key principles, Minervini aims to capture significant trends, minimize losses, and compound gains efficiently. Remember, this strategy requires discipline, continuous learning, and the ability to adapt to changing market conditions. Stock of the Month November: Vertex Detailed Technical Analysis Price and Moving Averages : The price of VRTX has recently experienced a bullish breakout. It is trading above all key moving averages (MA), including the 50-day, 100-day, and 200-day MAs, which are aligned in ascending order—a bullish signal known as a 'golden cross'. The 50-day MA is often used as a short-term trend indicator, and its position above the longer-term MAs suggests a strong upward trend. Volume : There's a noticeable increase in volume accompanying the price rise, which is a positive sign as it indicates strong buying interest. Moving Average Convergence Divergence (MACD): The MACD line is above the signal line and above zero, which is bullish. The histogram is showing increasing momentum to the upside. Relative Strength Index (RSI): The RSI is above 70, which typically indicates overbought conditions. However, in strong trends, the RSI can remain overbought for extended periods. IBD Ratings: The IBD (Investor's Business Daily) ratings show a high relative strength rating of 93, suggesting that the stock is outperforming 93% of all other stocks in terms of price performance. Bollinger Bands: The price has moved towards the upper Bollinger Band, which could signal that the stock is overextended in the short term. Support and Resistance: The chart shows previous resistance around the $360 level, which appears to have been decisively breached and may now serve as support. Candlestick Analysis: The recent candlesticks show strong bullish bodies, which confirms the buyers' control. Price Targets: If you're using chart patterns for price targets, the recent breakout suggests a continuation of the uptrend. Potential Risks: The overbought RSI readings could indicate a potential pullback or consolidation in the near term. Additionally, the elevated volume on up days should be monitored to ensure it doesn't start declining, which could signal a weakening trend. Here is a link top our updated portfolio: www.tradingview.com
NASDAQ:VRTX
by JS_TechTrading
PALANTIR Buy opportunities within the Channel Up.Palantir (PLTR) is trading within a 16-month Channel Up and is right now below the 1D MA50 (blue trend-line) and above the Channel's median. Once the 1D RSI hits again the Support Zone, it will be a buy opportunity again (assuming it also hits the Channel's median). The previous Bullish Leg on the median rose by 58.85%. As a result our target will be $25.00. This trade will be invalidated if the price breaks below the 1D MA200 (orange trend-line). In this case, we will wait until the stock approaches the bottom (Higher Lows trend-line) of the Channel Up again. The previous Bullish Leg on the Channel's bottom rose by +136.50%, which is marginally above the $25.00 target. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
PLong
by TradingShot
$PLTR At Resistance Price 20.24NYSE:PLTR , trading at a resistance price of $20.24, is at a pivotal point where the interests of bulls and bears converge. Bulls are hoping for Palantir to undergo a period of consolidation at this level, which could build the necessary momentum to break above the resistance, marked by the blue line on the chart. Conversely, bears are looking for a sharp reversal from this point, indicating a potential downtrend. The longer NYSE:PLTR remains at this resistance level and consolidates, the greater the likelihood it could break through, shifting the advantage to the bulls.
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by AlgoTradeAlert
Be Cautious On Palantir🫨Hello Traders, My name is Philip and I am just an average stock and indices trader with over 4 years of trading experience💻 ------------------------------------------------------------------- ➡️In today's video, I will analyse Palantir for you🫡 ------------------------------------------------------------------- ➡️Let me know your opinion about today's analysis in the comments below👇 ➡️I will only enter a trading position if ALL of my trading criterias are met! Keep your long term vision! P.S. Trading is risky and most beginner traders lose money!
PShort
by basictradingtv
8
PALANTIR May fractal points to $24.50 before years end.Palantir (PLTR) a week ago above the top (Lower Highs trend-line) of its medium-term Descending Triangle pattern, and has been basically consolidating this whole week but notably on a series of (minor) red candles. This is similar to what turned out to be a Bull Flag pattern of May 10 - 15. Surprisingly, the stock had also broken above the Lower Highs trend-line of its Descending Triangle at the time, and with the support of the 1D MA50 (blue trend-line), it registered a remarkable (almost) +180% rally on the August 01 Top. Although in order to attract a rally of equal proportions, a strong fundamental catalyst would be needed, we can deem the 1.5 Fibonacci extension, a feasible technical target by the end of December, as it can even be within the borders of a Channel Up. As a result, as long as the 1D MA50 is supporting, we have a medium-term target at $24.50 on PLTR. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
PLong
by TradingShot
PLTR | Palantir Technologies | 2 Towers and more | BuyThis is a follow up of Palantir after my last PLTR trade was closed some weeks ago. The former ideas lead to 5 positions which resulted in (+94.21%, +90.81%, +63.10%, +41.22% and +28.84%). If you want to check them out here are the links: ( +90.81%) (4 postions | +28.84%, +41,22%, +63.10%, +94.21%) As the next report for earnings and revenue is tomorrow i expect some volatility kicking in. If take a look at past days they always caused some volatility. It is to note however that the kind of reports (positive or negative earnings) never gave a hint in which direction it would go only that some volatility was coming in. Next thing to mention is the weakness of price, as it failed moving to the 50% of the Fib. See the red circle. A big sell- out followed that weakness. There are currently 2 scenarios which i´m looking for. Scenario 1 (Orange arrow) Requirements: Price falling below S/R Level 2 and S/R Level 4 but retaking them after. Target: Slightly below the 50% Fib, thats also the area where the last big sell-out started and caused the recent uptrend to stop. (+40.32%) Entry: Retake and a daily close above Stop- Loss: None (Long- term hold) Invalidation : Price cant retake the mentioned levels or price never falls below it Scenario 2 (Blue arrow) Requirements: Price falls into buy zone 1 Target: Slightly below the 50% Fib, thats also the area where the last big sell-out started and caused the recent uptrend to stop. (+40.32%) Entry: See Requirements Stop- Loss: None (Long- term hold) Invalidation : None (Long- term hold) Good luck Disclaimer: - My posts are mostly for my own journaling - This information does not constitute as financial advice and is only for educational purposes. I am not your financial advisor. - You trade entirely at your own risk - Make your own research - Finance and trading is evil, capitalism is bad, duh ;)
PLong
by a_tale_of_bulls_and_bears
Palantir | Long | Saruman wants it backThis is a follow up of my previous Palantir analysis. (See related ideas). Read it if you want to know where i placed my buy orders. The original swing created a range in which price kept moving around (mostly above the 50%) - which indicates to me in general upwards strength. With the range high taken out, price constantly moved between the upper resistance level and the 50% before breaking down. As the range low was now taken out i see a retest of the 50% and or even break above it. A small obstacle to overcome is the lower resistance level - which i think will hold price for a short period of time down. A very conservative target to close the position atleast parts of the position would be the lower resistance level Additional: The orange markins are engulfs of range high or support / resistance levels Good luck Disclaimer: - This information does not constitute as financial advice and is only for educational purposes. I am not your financial advisor. - You trade entirely at your own risk - Make your own research - Finance and trading is evil, capitalism is bad, duh ;)
PLong
by a_tale_of_bulls_and_bears
6
$PLTR Rapidly Approaching TP1NYSE:PLTR has been extremely bullish since Sept. 25 and has been in a strong uptrend after breaching the orange resistance level. The next key price target, the light blue resistance line, is rapidly approaching. PLTR is a war stock that is benefitting from the new Israel Palestine conflict. Other key events this week are September PPI inflation data and Fed meeting minutes on Wednesday October 11. I think the markets are likely to have some sideways price action on Tuesday in anticipation of the new inflation and fed data.
PLong
by realchartchamp
PLTR - Pullback Into the Spring ZoneGambling on the correction movement. The current price structure offers an acceptable risk/reward ratio for a quick short. The Entry Signal is the inverted hammer closing below the support line. *** Fingers Crossed *** |-------| Stop Loss : $16.80 |-------| | |------- Risk per trade : $1.20 -------| | |-------> Entry Price : $15.60 <-------| | V-------| Exit Goal : $13.80 |-------| Note: This is not a long term short on the Palantir stock but a quick trade on the price action.
PShort
by wtecharut
3
PALANTIR Held the Support but H&S looms. Trade with breakouts.Palantir is trading sideways the past 6 weeks keeping the 1D technical outlook neutral (RSI = 47.834, MACD = -0.450, ADX = 41.012). It held once again the S1 Zone and this is certainly bullish for the short term especially en route to the R1 Zone, but unless invalidated, this is the formation of the RS of the the Head and Shoulders pattern. Having crossed under the 1D MA100 last week, enhances the selling sentiment, especially as long as the 1D MA50 acts as Resistance. Scalping is favored inside R1 and S1 but long term trades can be taken outside of this range. Under the S1 Zone, we will sell and according to the H&S we will target the 1D MA200 (TP = 12.00). Over the R1 Zone, the H&S gets negated and we will buy, aiming for the R2 level (TP = 20.00). A somewhat similar pattern from February to May broke higher after the dashed Resistance broke following a price hold on the S1 level. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
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by InvestingScope
6