PLTR load up... to the moon!PLTR after amazing an ER run up, stock price took a hard hit today as it dropped nearly 13%. PLTR earnings and beat analyst upgrades with a 41% growth in revenue from 2019 and is expecting to report a 30% yoy increase in revenue growth for 2021. Great add to your long term as they continue to spread their data analytic software to not only commercial customers but the government as well. Also founder of ARK Investment,Cathie Wood, has added this to her portfolio. From a TA standpoint, I can see more room for this to come down looking for a bounce near 24 to my wave c target to complete our abc correction before we start to form a 1-2 EW set up for a confirmed reversal. Now, if we gap up and we don't come down to get our dip entry, I wouldn't enter any short term swing and wait for a safe entry which would be a break and hold above 31. Good point here to go long with shares!
Key Levels:
Support: $25.30, $22.36
Resistance: $29.11, $30.92, $33.34, $37, $42.04, $45.19
Ways to Play This:
1. Buy Shares and HOLD!
2. LEAPS (year out option contracts, couple strikes OTM will suffice)
3. Swing minimum 3 week out exp. Option contracts
Option Ideas:
30C 3/5 2.30
30C 3/19 3.15
30C 1/21/2022 9.95
40C 1/21/2022 7.70
50C 1/21/2022 6.08
*Keep in mind these are contracts that catch my attention due to their liquidity (high vol and high OI) you can always go ITM or closer strike prices but my style is to go OTM unless ITM is cheap
Pltrstock
Palantir should bounce here/ LONGPalantir is in a strong uptrend and I am expecting it to continue pushing higher, we should see storng PA at this level.
PLTR BULLISH LONGIf PLTR graph break occurs, BULLISH
Entry here is risky. Waiting for the chart break to buy the stock reduces the risk. Those who want to take risks can enter here and earn high profits.
PLTR Technical Gap Fill and Bounce UpDaily chart shows a small gap fill from a quick move to the upside. Once this gap fills from a pullback I see PLTR moving up from a bounce off the 9EMA
1HR and 4HR timeframes also show inverted head and shoulders pattern.
US Stock In Play: $PLTR (Palantir Technologies Inc)$PLTR further reinforced its technical strength, with a rally of +11.20%, closing at an all time high level of $36.23 that was previously highlighted two days ago. The intraday trading range of $PLTR exceeded 35%, marking it as the most volatile session for $PLTR since its IPO. This is coupled with 191.35 millions worth of shares traded during the session, exceeding 165% of its average.
Price volatility for $PLTR continue to uptick towards its peak of $3.00/day, giving substantial traction to break $40 round number resistance ahead of its inaugural Demo Day today at 4.30pm US ET.
PLTR Support testAs we can see a range 25 novmenber. now we can expect a uper trend line test and then support test before bounce.
PLTR formed a pennant; possible breakout soonThe pennant is a continuation pattern (of the previous trend) so PLTR may be looking into a move to the upside sometime soon. The price moved up today and headed against the $26 resistance several times. It even broke above it but was not able to stay above that level. However, we closed the day for the second consecutive time above the 14-ema and 21-ema, which is a bullish signal. MACD is curling up and +DI touched -DI and moved back up, which in my experience forecasts a move up. I am watching the moving averages. The longer PLTR holds above them the stronger they become as support. It is important to keep in mind price could also continue sideways when the pennant is completed but if a breakout is confirmed PLTR may be looking into a nice rally.
Safe trades!
***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!***
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
$PLTR Back in the Wedge! Can We hold and Bounce?$PLTR video Breakdown going into Jan 11.
Give $PLTR time to establish a base and we should pick up some volume
$PLTR Can We Rebound? Breakdown and Analysis 1/4/21$PLTR Breakdown and Analysis going into the New Year! Will we see more downside? Can we bounce and where? In need of a price raise ASAP.
