Another leg-upNYSE:PLTR is ready for a breakout and possible continuation of waves. Applied previous earnings range to the prediction. Only thing that could make it break downwards is an SP:SPX correction in my opinion
PLTR trade ideas
PLTR: Correction has begunI have been waiting for a correction in the stock since selling out of it in early February. There has been a couple of months long distribution pattern formation and now a confirmed breakdown this week. I had been short for a couple of weeks and second guessing myself a few times because bulls were heavily defending the neckline for H&S pattern. It almost formed a re-accumulation pattern and a falling wedge, almost shaking me out of my short position. I am glad I held on due to the Elliott wave pattern and now comfortably sitting on a pretty good cushion. I am planning to get out before the B wave bounce starts, which I think will be at the 0.764 retrace area at $19 which is also a very large volume support. After that will look for a 3 wave bounce. Then possible short again for a 5 wave down move down between $19 and $15 area. I am not sure if the retracement will be deep or not, but there is a lot of geo political turmoil going on, which might favor the stock. Whatever it might be, I think between $15 and $10 will be a great once in a decade buy, something like Tesla back in 2012. There is however a chance that all of the rally and this correction is part of a wave B and a very large selloff to single digits or even pennies are yet to come. We will think about that if a lot of things happen first. For now, I am trading my short term bearish, long term bullish plan.
long entry between 18-20?possible long entry on further dips in price while riding the overall uptrend could be beneficial in the long run.
16.48-18.08-18.93 would be ideal price targets on the way down setting up some possible limit buy orders or put options if one believes pltr could fall further or this is the bottom and its time to load the boat?
$PLTR - $17 Price Target (BEARISH HEAD & SHOULDER)A Major Bearish Head & Shoulder has formed. Short at the crack of the neckline. Remember the measured downside = the height from the head to the neckline which is at about $19. There is is also a MAJOR GAP that needs to be filled at around $17, so watch for a continuation for a sell off after the 1st price target has hit at around $19
$PLTR - Head and shoulder breakdownNYSE:PLTR (Palantir Technologies Inc.) In my March 20 post, I mentioned that it might be forming a head and shoulders (H&S) pattern. Fast forward, the head and shoulders pattern is complete, and it is breaking down.
$20 area could provide a good support.
The full measured move for the head and shoulders is around $18. The RSI (Relative Strength Index) is close to the area where PLTR has bounced before.
$18.45 to $18 area could be a good potential entry. But I would need to see signs of stabilization.
Rise RetracedThe rise since March 5th has been retraced and the momentum is renewing.
There is not much ore to say. The upward trend that has begun in February is by far not expired and so I think that I can expect a short term retest of the March top.
PALANTIR: Best buy opportunity since January.PLTR is bearish on its 1D technical outlook (RSI = 33.299, MACD = -0.640, ADX = 35.931) as it trades under its 1D MA50 and today reached the 1D MA100 for the first time since February 5th. Even though the 1 year Channel Up still has some downside to bottom on its 1D MA200, this is technically the best buy opportunity since the January 31st low as the 1D RSI entered the 1 year Support Zone. This is the 3rd correction inside this Channel and each leg is -4% shorter, so the current -25% correction from the top is a fair Low to buy. The accumulation at the bottom of those corrective waves has been between 4-6 weeks so the market may take its time to accumulate towards the end of May and then rally aggressively. Fair target, the 1.236 Fibonacci extension (TP = 29.00).
See how our prior idea has worked out:
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PLTR - Earnings pop incoming?I've put a lot of thought into this one. This chart is in log mode as the wide range of prices covered are smoothed and reveal the potential true picture. I give a primary bullish scenario but caveat with multiple different potential outcomes given certain price actions. Trade at your own risk.
As you can see, PLTR put in a significant top near the 61.8% retracement of the major move down from January 2021 to January 2023. In linear mode, it's also a 61.8% retracement (not shown on chart) of the September 2021 top from the January 2023 bottom, further confirming how much of a massive resistance level it is.
Elliot Wave indicates that this was a 3rd wave in a 5-wave upward impulse. For that to be true, PLTR will need to hold the $12 area if it is going to continue down leading into earnings. Should it hold there, the potential for an earnings pop is at our fingertips. If you look at the 2nd wave of the current 5-wave move up, the same thing happened with earnings there leading to a massive move upward into our very explosive 3rd wave.
This leads to our buying opportunity. Should we see PLTR dip below $15 today through Wednesday, October 27th, it would be in the accumulation zone. Set your stop at $12.00 with a GTC-EXT order. This should limit your losses should earnings kickstart a further downward move that breaks support.
Assuming the 5th wave does engage, the potential targets are outlined on the chart. I must caveat though that 5th waves are unpredictable. They can terminate before, at, or higher than the general expected levels. In Elliott Wave, usually only one of the 3 impulse waves (1,3, and 5) will see an extension. With 3rd waves usually targeting the 161.8% fib extension level, the 5th wave target is generally expected to be the 200% level. With every 3rd wave extension level, you can usually expect the 5th wave level to rise the same number of extension levels. In this case, the 3rd wave extended and surpassed the 176.4% level, one extension level above the standard, and came shy of the 200% level. So the general minimum expectation for our 5th wave target should be a minimum of the 223.6% level, which comes in at around $25. Given that the 3rd wave already extended, it should not be expected that the 5th wave will also extend. If it somehow does, the upper target is a gap fill from February on 2021 at $31.34. Profit is generally taken at the minimum level with some runners left for potential upside.
Should PLTR start rising and form an upward pattern prior to hitting my ideal 4th wave target in the mid $12's, it is possible the 4th wave is already in (or maybe it touches the mid $13's one more time). I will add that the shape and structure of a 4th wave that terminates in the $13's holds a far more likely chance of becoming a a descending triangle where the bottom holds flat and the tops terminate lower until the pattern ends. If this were a triangle, it would be most likely that the next touch of the mid $13's would be the c wave with an e wave to come in the $17 range and the e wave to again target the $13's. Due to the nature of the current structure, I only favor a significant earnings pop should PLTR fall to $13 or lower.
Should you see PLTR dip below $12, then the expectation shifts to a major top being in and downward pressure taking this to $10 and potentially lower. Therefore, below $12 range and I recommend getting out and waiting for further clarity. If you hold at a basis higher than the previous top and don't want to sell, consider selling calls to lower your basis or selling $10 puts.
The alternate count not shown on this chart would have the May 2021 low as an A wave, the September 2021 top as a B wave, and the January 2023 bottom as the C wave in a larger degree (A)(B)(C) long term corrective pattern. The recent top at the 61.8% level would be the 3-wave (B) wave of this larger degree, with the bottom (C) wave coming in at new lows over the next 1-2 years. This is why the stop is so important.
Readers should always remember that markets are their own creature made up of millions of individuals and institutions each following some combo of inherent bullishness, inherent bearishness, fundamentals, technicals, stupidity, and pure emotion. Elliott Wave, and specifically Fibonacci Pinball (developed by Avi Gilburt at elliottwavetrader.net and prominent Seeking Alpha author), merely provide a framework based on the observed price action to date. I know that while my wave outline is based on years and years of data and application from not only me, but some of the best in the game, I also know that markets do not follow a set path and that sentiment can remain irrational far longer than I can remain rational. That is why you MUST consider the altneratives and manage risk appropriately. Know the pivot zones that could lead to the primary path failing. In this case, it's the low $12.00 range.
I warrant that the information created and published by me on TradingView is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors. My analysis is not a recommendation for a specific trade. My analysis outlines a potential scenario and provides risk assessments for multiple alternate scenarios.
-mazag08 - TastyWavez 2023
Pltr H and S breakLooks pretty much a h and s break confirmed with sort of rising wedge breaking down as well. looking at the gap below, I set three targets .
purple area is a consolidation zone for pltr.
I like plrt stock, but for now i am bearish. long term - defnitely a good stock to hold.
** Not a financial advice. these are just my personal opinion. **
PLTR trades at the obvious bull target. Fancy a short here. PLTR has now returned all the way to the level of my first bear forecast of it dropping to under 10.
Almost hitting the second forecast target of under 5 (5.8 low, did miss by a bit).
And now hitting the target level for the long trade from the lows.
We're recently parabolic and spiking out a 1.61 fib. A lot of the times when this will reverse we won't break the 2.20 fib.
So as we're very close to that 2.20 fib, I fancy the odds on this. High RR entries close to the 2.20 fib. Quit above.
PLTR LONG on a 0.5 Fib PullbackPLTR services DOD and military contractors which is a growth industry given current geopolitical
backdrops. I see this as an opportune time to buy the dip which is a healthy correction from
a recent trend up. The idea is illustrated on this 120 minute chart with targets and stop loss.
A H&S so obvious to go long?This is a heavy retail stonk and I've seen a lot of tratooors calling top because Alex Crap was calling shorts coke heads on CNBC. Now we have a classic head and shoulders. Could it be a trap? IDK but it regained the 50 ma today which could act as a launch pad. Worth a long above the neckline and 50 MA to 24 ish. Then a call trigger on ATRs may justify more. I view this a contra to an obvious distribution pattern. A tight stop at 21.90 is a must!
QUICK AND EASY WAY TO MAKE A CHART (GAPS) - PLTRIF your an advanced trader and good at charting, you likely won't find this information useful. In the future, I'll have more educational posts that go in depth, but this one is for the newbies.
STEP 1 - Find your gaps (circled in blue) ONLY MARK GAPS THAT HAVE YET TO CLOSE
STEP 2 - MARK your GAPS with a Horizontal Line (alt + h)
STEP 3 - DUPLICATE your Horizontal lines (CTRL + CLICK each line while holding ctrl to multi select lines, CTRL + SHIFT + CLICK AND DRAG to duplicate)
STEP 4 - These are now your long term trading zones (COLOR Lines accordingly, TIP - Try not to pick colors that blend together) red and green do not mean buy/sell, they mean top of the gap, and bottom of the gap, 4.22% or so... It doesn't need to be exact.
STEP 5 - Line thickness (IF multiple lines stack up, you can create a thick line to simplify chart. KEEP IT SIMPLE, REMEMBER, this is not to be exact, this is to create zones to prepare you for future movements based on past gaps)
Why is this useful? Well, if you know a price gap is statistically likely to close, then you can be pretty certain that at some point in the future, that gap will close, meaning price will return to @ or above the price gap.
With this in mind, you can plan ahead and start to realize when your emotions are getting the best of you.
This is also great because you can do this on any time frame with candles.
Why ISNT this useful? Well, this gives you no indication of timing. Past results don't guarantee future results. AND this gives you no indication of current price action. In other words, a GAP could form and close 2 years later, and the entire time before it closes, price keeps going lower and lower.
Good luck, and remember, this is just a quick and easy way for newer users to identify potential price targets, while limiting emotion in decision making.
Textbook Head and shoulders on Palantir, $PLTRA H&S has formed on the daily chart, this time it has broken below the neckline that has been succesfully retested with declining volumes during the formation of the pattern. So far a textbook H&S contrary to the previous one i published who never broke below the neckline. The potential drop of roughly 20% would be right on the 19$ GAP area and right around the 200 days MAs. Buying some Puts could be a good R/R play...
PLTR to $20 or belowBecause it continuously fails the 9day MA; I think the 200day MA (white line) is more likely an entry.
I'm cautiously bullish on NYSE:PLTR but this huge market bullrun this year makes the need for good entries ultra competitive.
I would start buying NYSE:PLTR around $20 (maybe) depending on my capital availability; and I would use short credit puts below $19 to monetize and leverage my position.
I will have to re-evaluate this when those conditions are met; nothing is certain until the ink is dried.
PLTR Maybe DownPLTR now go so far it will go back before it continuous to go up and it is good time to buy. now the chart made head and shoulder that is bearish Pattern.
Palantir and Oracle Forge Alliance in AI and Cloud ComputingUnveiling a Strategic Partnership
In a bold move destined to reshape the landscape of artificial intelligence (AI) and cloud computing services, Palantir Technologies ( NYSE:PLTR ) and Oracle ( NYSE:ORCL ) have announced a groundbreaking partnership. This strategic alliance heralds a new era of innovation and efficiency, promising to revolutionize how businesses harness the power of data analytics and AI technologies.
Harnessing the Power of Palantir's Platforms
At the heart of this partnership lies Palantir's renowned software platforms: Palantir Gotham, Palantir Metropolis, and Palantir Foundry. These platforms, tailored to specific industries, have already demonstrated their effectiveness in empowering organizations to unlock actionable insights from complex data sets. Now, with the added advantage of Oracle's cloud infrastructure, these platforms will be further enhanced in terms of scalability, performance, and accessibility.
Pioneering the Future of AI with Generative Models
One of the key highlights of this collaboration is the migration of Palantir Foundry workloads to Oracle's cloud computing platform. This strategic move underscores the commitment of both companies to providing customers with unparalleled flexibility and agility in deploying AI-driven solutions. Moreover, Palantir's Gotham and AI Platforms will now be deployable across Oracle's distributed cloud, expanding their reach and impact across diverse market segments.
Technical Outlook
Palantir ( NYSE:PLTR ) closed at 22.48 down by 1%. Palantir stock is trading below the 200-day Moving Average (MA) with a Relative Strength Index (RSI) of 41.33 indicating a moderate selling bias of the stock.
Palantir: Time to Exit?Upon closer reevaluation of Palantir, we continue to believe that we have not yet completed Wave (2) and that the price should not continue to rise. Our initial hypothesis was invalidated; we first expected to see Wave 5 at $19. Now, we assume Wave 5, or rather Wave (1), at $21.85, having developed Waves A and B, with Wave B at $25.69. This should also form our top and serve as an Expanded Flat, which we set from Wave A downwards. This closely aligns with the 61.8% level, which is highly probable for a Wave (2). Our target range is between $12 and $9.36. We should not fall below this; otherwise, we would consider closing the position down to $7.19, although we deem this unlikely. We believe the price will move within this range. We will place a limit buy order only after observing a significant weakness in Palantir.
The head and shoulders pattern is formed :(In the long term, I am very bullish on the stock. But now we can expect a correction, and that is normally ok. Just short the stock, and make some money, but do not be too greedy.
PLTR: Gap Fill IdeaHead and shoulders seems to have been activated. I believe we could drop and potentially fill the gap prior to earnings. I see this as a good buying opportunity for me. This is coming from a long term investor. This is not a trade nor is it trade advise.
PLTRWe might see a downward move here until VO -23% on daily then we will have a kind of fluctuation that makes a diamond pattern leading to a higher range of price
PLTR “Head and Shoulders”PLTR has formed a perfect head and shoulders formation and is currently approaching the neckline in perfect timing for entry!!!
