No New TopPalantir has not reached the March top again but begun a correction instead.
As this daily corrective candle has not yet reached a remarkable retracement level I expect it to decline further.
PLTR trade ideas
PLTR Long IdeaPLTR long idea:
Indicator is flashing buy on PLTR.
Momentum is building and PLTR crossed 20 days average volume today so PLTR should go up for here.
Entry, SL and TP Levels are marked on chart
Palantir Cup and Handle Weekly ChartNYSE:PLTR Palantir Cup and Handle Weekly Chart:
It appears Palantir has developed a cup and handle pattern on the weekly chart and with momentum building it could get over the resistance it has seen at the 27 -28 level. It is a newer stock so one of the C&H rules is the entire pattern forming above the 200-day average market price I have in Green the 40 week average which is a close equivalent and it fails that rule.On the other hand It does form over roughly 24 months, it did have a decrease in volume over the handle development, the buy signal is when the price breaks above the handle’s resistance with increased volume. Technical analysis can and will fail due to other market forces. In my opinion short to mid term we could test 30 as a good start developing support long term it could see 40.
BIG Moves to come in PLTRWeekly RSI Breakout soon to come on the start if this Wave 3 push. I would bet we take out the all time high on wave 3 but conservative NYSE:PLTR Fib levels shown.
PLTR: Buy ideaOn PLTR we have a spring effect on the vwap indicator and on top of that we have the break of the resistance line. This means that we would have a high probability of having a continuation of the upward trend.
PLTR Analysis: Daily and Weekly InsightsDaily Chart: Resistance Levels and Breakout Potential
The daily chart of PLTR reveals a strong bullish movement with the price recently testing the resistance at 25.47. Historical resistance levels are marked at 25.47 and 27.50, where the price has previously faced rejections, as indicated by the red arrows. The 21-day EMA acts as a dynamic support level, maintaining the bullish momentum. A decisive break above 25.47 could signal further upward movement towards the next resistance at 27.50, while a failure to break could lead to a retest of the support at 24.03, or even the 21 EMA again.
Weekly Chart: Ascending Channel and Sustained Uptrend
The weekly chart shows PLTR trading within a well-defined ascending channel, indicating a sustained uptrend. The price is supported by the 21-week EMA, which aligns with the lower boundary of the channel. Key support levels include the 21-week EMA and the channel's lower boundary. The price is currently approaching the upper boundary of the channel, suggesting potential resistance around 26-27. A breakout above this channel could further accelerate the bullish trend, while a pullback might find support around 22-23. On the other hand, if PLTR loses the key support levels on the daily chart, we could see it retesting the 21 EMA/bottom line of its channel in sequence.
Conclusion: Bullish Momentum with Key Levels to Watch
Both the daily and weekly charts of PLTR indicate a strong bullish trend. On the daily chart, the key level to watch is the resistance at 25.47, with potential for a breakout towards 27.50. The weekly chart's ascending channel suggests sustained upward momentum, with support from the 21-week EMA. From now on, we should monitor these levels for breakout or reversal signals, with a focus on maintaining the bullish momentum above the key support levels.
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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.
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Long or short?Inverted chart. That's it, that's the chart. It might take a couple of more weeks for a break out, but to where?
Window ClosedWe have closed the window opened at May 6th on Thursday and are trying to reach the high of this day again.
I had expected a decline since the beginning of May but failed and had to take the loss.
That's why I have changed my mind and turned my view to the February window now.
Seemingly this has to be closed before another rise will be possible.
PLTR Short fern PLTR short term looking to form a head and shoulders on the 1hr chart. Expecting a correction towards $21-$20 range
#202425 - a weekly price action market recap and outlook - pltrGood evening and I hope you are well.
Let's do some single stock trading ideas. Palantir.
comment: The stock that lives on hopes and dreams of people who know few about IT and much less about data & analytics, much like Snowflake. Go look at the Snowflake chart. When I have read the ipo price in 2020 I told everyone it was a bubble and the stock should trade below 100 for many years until maybe big profits could come in. They are still years away from those big profits and the stock lost 49% from the IPO price. I do not know anyone who works in Data & Analytics and knows Palantir who tells anything positive about them. It's a hype stock that got good publicity because of investors and defense contracts. That stock will trade below 15 in either late 2024 or 2025. Not financial advice.
current market cycle: My dead dog can tell you it's a traingle and that is a form of a trading range and market is in breakout mode. Your job is to wait for the breakout and hop along, that's it. Now set the same alerts as I have and make money once they ring.
key levels: 20 - 27
bull case: Market is getting rejected at the 50% pb from all time low to all time high. That's bearish af. Only chance bulls have for this to trade back up is a weekly close above 27. Bulls have going for them, that there seems to be big passive buying at 20.50. They are also trading above the daily and weekly 20ema, which is also bullish.
Invalidation is below 20.
bear case: Once that buyer at 20.50 gives up, it's free fall. The triangle will probably play out and we see some downside from 23 to 20/21 again in the short term. Last earnings surprised upwards and bulls used that spike as exit liquidity. Tells you something.
Invalidation is above 26.
short term: bearish for trade back down to 20/21. Short term in this case means several weeks, since I'm posting the weekly chart.
medium-long term: I don't know which way the triangle breaks down to but either way, you can clearly see the big lows and highs. One of those will probably get retested before the other. So set the alarms and trade it when it breaks out.
I hope my insrted illustrations help you.
PLTR: Failed breakoutFailed to break out, and also re tested resistance level. Maintaining bullish triangle down to 21.
Two major government contracts recently earned equate to 30 million.
There's a looming gap fill just below the support of the triangle. If we break out lower, it's possible to visit the 17 - 19 range. We'll need to hold above 21 dollars to maintain bullish sentiment.
PLTR breakout soon! PLTR is at Horizontal Support and Trend Resistance simultaneously. Which direction will it break?
PLTR: Potential short term pull backRetail sell off. Meanwhile the tutes are buying at all time rates.
Don't be a fool. If you're just joining the PLTR family. Welcome! Any price is a good price!
PLTR: Need to break above 24.50Some fundamental catalyst should need to occur, and if we can break above short term resistance, we can be well on our way to 27-30.
What do you guys think? Inflation coming down would likely assist.
PLTR Perfect example of bullish divergence PLTR Weekly chart shows a clear example of rising rsi while price bottoms lower. Has the potential for a continuation after breakout.
$PLTR heading to sub $5With the rejection of $21, NYSE:PLTR looks set to fall to new lows.
I think it's likely that we're going to sweep the lows at $8 and keep falling from there to a final target of $1-2.
This will likely take place at some point in the back half of 2024 and should present a great buying opportunity once it gets down to those levels.
Let's see what happens over the coming months.
Retracement RetracedThe retracement of the corrective risegives the chance of a renewed attempt to overcome the breaking summer high of 2021.
And even if we may not succeed there is a good chance for a profit.
But if we succeed the chance of a further rise will be exorbitant. Then the chart will have the V-formation confirmed which consists in the deep fall of the 4th quarter of 2021 and the following
as like steep rise of this year. The potential is seen in the chart. We may almost reach the all time high then again. I don't say that this comes. Such a rise may take months and even years but the chances will be clearly on the upside then.
PLTR Long-Term BullishPublished a prior chart on PLTR but thought I could do better and add a bit more clarity PLUS include two (2) possible scenarios that may play out. This stock has some solid relationships behind the scenes so expect any pullback to be simply related to a short-term consolidation move.
PLTR: I guess no one cares about the half billion DoD contractPLTR recently received a close to half billion dollar, 5 year contract from the military complex (in addition to some commercial contracts and expansions).
If the stock didn't move much from that, it won't move up now. Buyers are assuming it's already priced in at these levels. We also failed to break out of an upward channel a couple weeks back. Se here we will sit until folks feel the next catalyst is worth driving up the price to 30 bucks.
Meantime, we will bounce around between 17 and 22 bucks. If we stay above 20 this week, we may retest the high of 22 before coming back down - and potentially testing the 17-19 range - still maintaining the larger upward channel. It's a good time to accumulate for long term holders, and it's a good time to wait for short term buyers.
not trading advise.
Can PLTR continue to move up?Key Observations:
Price Action:
The price is currently at $22.88.
There has been a significant upward movement recently.
The stock is trading near its recent highs around $22.90.
Moving Averages:
The green moving average line is trending upwards, indicating a bullish trend.
Volume Profile:
The volume profile shows significant trading activity around the $22.24 level, indicating strong support.
There is less volume traded above the current price, suggesting less resistance in this region.
MACD (Moving Average Convergence Divergence):
The MACD lines (blue and orange) are above the zero line, indicating bullish momentum.
There is a potential for a bearish crossover if the lines start converging.
Support and Resistance Levels:
Support: Around $22.24 and lower at $21.86.
Resistance: Immediate resistance near the recent high of $22.90.
Forecast and Advice:
Bullish Scenario:
If the bullish momentum continues, driven by strong volume and positive market sentiment, PLTR could break above the $22.90 resistance.
The next target could be around $23.50 to $24.00, where the price may face new resistance levels.
Bearish Scenario:
If there is a bearish MACD crossover or if the price fails to hold above the $22.24 support, PLTR might pull back.
In this case, the price could retest the support levels around $21.86 or even lower at $21.50.
Neutral/Bearish Signal:
Watch for declining volume on upward movements, which might indicate weakening bullish momentum.
If the MACD lines start converging and potentially cross downwards, it could be a sign of a bearish reversal.
Trading Strategy:
For Long Positions:
Consider entering if the price sustains above $22.90 with strong volume.
Set a stop-loss below the $22.24 support to manage risk.
For Short Positions:
Consider entering if there is a bearish MACD crossover and the price breaks below $22.24.
Set a stop-loss above the $22.90 resistance to manage risk.
Conclusion:
Based on the current chart and indicators, PLTR shows bullish momentum, but it's essential to watch for key levels and indicators like the MACD and volume for confirmation of continued upward movement or potential reversal. Adjust your trading strategy accordingly based on these signals.
Palantir is in a massive cup and handle patternSelf explanatory on the chart. Once price breaks the neck line up then we may see an upward long trend.
The rules for being a professional traderTo be a professional and profitable trader, you must cultivate certain values in yourself. It's about:
- Discipline;
- Courage;
- Self-Confidence;
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I) Discipline: Discipline is one of the key factors in becoming a profitable trade. If you are not
disciplined we will never be able to achieve our goals. Indeed, discipline consists in respecting the rules or principles that one has set for oneself.
II) Courage: In trading, you have to be brave, that is to say, you have to have a steely mind. Certainly you will make winning trades as well as you will make losing trades. The bottom line is that your winning trades exceed your losing trades. When you make losing trades don’t be discouraged, don’t be angry, you can quickly cut your positions to minimize your losses. In addition, you have to have the courage to come back to your mistakes to see
what went wrong so that you don’t make the same mistakes agin.
III) Self-Confidence : Never doubt yourself. Indeed, doubt is considered as the greatest weakness of Man. Always believe in what you do. « Nothing is impossible for those who
believe »
V) Humility: Humility will lead you to become a champion in trading. When you start making money trading, be yourself. Don’t get carried away by your emotions, Always keep your cool. Stay humble.
God bless you Eternity.....
PLTR: Buy idea: spring effcet on vwapBuy idea on PLTR because as you see on the chart we have a spring effect on vwap and the breakout with force the resistance line by a big green candle follow by a large green volume.Thanks.!
