Overpriced Growth stock with a promising future company PalantirWe're at the YTD chart. The Supertrend indicator has it as sell. The RSI shows it has developed a trend and if it plays out. Palantir will find the buying pressure it needs to turn the Supertrend indicator signal to a Buy.
PLTR trade ideas
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!
PLTR- Downside Risk Remains-$15Palantir has seen a steady decline after having breached the $20 level, late last year in 2023.
Prices are down more than 3% YTD.
20 (D) & 50 (D) EMA crossover- Short-Term
TGT: $15 200 (D) EMA
We can expect a bounce from the $15, failure of this level will bring back the next main support @ $13.5. Prices will need to regain control above the 100 (D) EMA @ $17 before moving higher.
Overly optimistic market expectations of a 150bps cut in 2024, meanwhile the Federal Reserve's outlook of a 75bps cut.
Critical area Price approaching a critical area 15.90/16$ where two direction are possible
Reaching area and then rising again will confirm medium term bullish trend (blue arrow) with target 16.50 where purple trendline will be a resistance
Breaking down otherwise will confirm continuation of bearish trend started at december 23 with a target of 15.20$
PLTR AnalysisPrice consolidated since my last analysis. As the price is currently filling the fair value gap, I'm expecting a bullish move from here if the price gives us a confirmation on the lower time frame. Either way, price can further fill the current fair value gap into 14.96 before going higher from there.
$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.
PLTR Text book Falling Wedge Pattern Text book falling wedge pattern on PLTR is forming. If this breaks out, 20+ is not unreasonable. Wait for the breakout and go long!
Good luck traders
Plantir technologiesConsidering the strong fundamentals and positive technical indicators, my analysis leads me to believe that Palantir Technologies is well-positioned to outperform current market expectations. The stock's potential to break through the $20 weekly resistance is supported by its revenue growth, diverse client base, strategic partnerships, and favorable technical indicators. While all investments carry inherent risks, Palantir's current trajectory indicates a compelling opportunity for investors seeking growth in the technology sector.
Palantir breaking out Palantir is breaking out descending channel
Price hit medium term channel and now are going out of bearish channel
Final confirmation by closing a candle over 16.90$
Palantir headed downPalantir is still moving inside a downtrend channel heading to 15.60$
However is possible a more downswing move to fill the gap till 14,96$ before recovering
PLTRPalantir Technologies is a public American company that specializes in big data analytics. Headquartered in Denver, Colorado, it was founded by Peter Thiel, Nathan Gettings, Joe Lonsdale, Stephen Cohen, and Alex Karp in 2003
Potential swing long.
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.
PLTR Waiting for ConfirmationWaiting for confirmation here. If we close below 15.86, 13.66 is our target low. Otherwise we trade higher until we get to the top of the channel. Will need to break through that to carry upwards.
PLTR AnalysisPrice played out nicely as analyzed last week, giving us a -8.77% move to the downside, hitting our target for the bearish retracement. From here, I'd wait for a confirmation for price to turn bullish for the bullish move to the upside.
$PLTR fakeout and a crucial positionIt's fair to say that PLTR did a book perfect FAKEOUT to mislead numerous traders, is an understatement.
PLTR attempted to breach the $20 mark for the second time this year, only to retreat back into the channel.
Currently, it's sitting on a diagonal trendline which, since May 2023, has been recording higher lows.
It's also hovering around a major demand level of approximately 15. The 200-day moving average is approaching and these levels must be maintained.
If not, PLTR could find itself in a potentially risky situation.
AI's Insight from News Cross-Checked with Pattern Recognition 👁Dear Investors, I believe that PLTR might fall to $13.2 in the coming months. Here, I made a short idea from the insights of the different AI algorithms I use for speculative analytics.
News Analytics - Natural Language Processing
1 Palantir's revenue growth has slowed in recent quarters. The company's revenue grew by 31% year-over-year in the first quarter of 2023, but this was down from 54% growth in the fourth quarter of 2022. This slowdown in revenue growth could be a sign that Palantir is facing challenges in the market.
2 Palantir's gross margin has been declining. The company's gross margin was 74% in the first quarter of 2023, down from 77% in the fourth quarter of 2022. This decline in gross margin could be a sign that Palantir is having to invest more in sales and marketing to drive revenue growth.
3 Palantir has been losing market share. The company's market share in the data analytics market is estimated to be around 1%, according to Gartner. This is a very small market share, and it has been shrinking in recent years. This could be a sign that Palantir is not as competitive as its rivals.
4 Palantir's stock price has been volatile in recent months. The stock price has fallen by more than 50% from its all-time high in August 2021. This volatility could be a sign that investors are uncertain about Palantir's future.
Cross-Checking Logic
Of course, there are also some positive news about Palantir that could suggest that the stock price will not fall to $13.2. For example, the company has a strong pipeline of new business opportunities. Palantir is also investing heavily in research and development, which could lead to new products and services that could boost the company's growth.
Chart Pattern Recognition - Deep Neural Networks
Between the two red trendlines, my neural networks believe to be a bearish channel. Your human eyes can see how Palantir rejected the upper trendline on 11 October and 21 November. I marked these price points with red ellipses. The channel had some bullish aspects when the bottom trendline acted as a support on 02 November and possibly today. Look at the left green arrow. Palantir's last rally related to this point. Today, the stock is near the same trendline again, and there's a chance that it can reignite a similar rally. The white arrow shows this possible scenario. I, however, feel skeptical that history would repeat itself.
Ensembling Technical Indicators
I asked different AIs to weigh technical indicators to represent their opinions. I ensembled the results of these AI opinions and selected MACD, RSI, and volume to simulate AI's insights in a way you can reproduce on your chart without AI. From declining volume bars I suspect the continuation of the bearish trend. The price action has been bearish over the last week, and I can't see the volume to reverse it. I can see extreme sell volumes every now and then, but they seemed to escalate the bearish trend. I don't see where the orders are that could absorb the end of the bearish trend. RSI tried to make a bullish cross below the volume indicator, but it happened to be a failed cross. RSI reversed as it crossed the SMA, which suggests a lack of bullish momentum. The potential bullish signal turned out to be an indication of how weak bulls are. At the same time, MACD has been going on the bearish side with a strong momentum, and periodically pulsing bearish momentum without signs of weakening. Overall, these indicators simulate what my AI bots believe about the market. Their ensembled opinion seems to be a bearish continuation.
Chart Explanation
I already explained the red bearish channel, the channel contacts, the indicators, and a potential bullish scenario, but I think bears enjoy a better risk-reward ratio. Theoretically, channel breakdown could pull the price into the support level of 13.2. I've got a green line at this level. Thus, the target price of a short could be within the green box around this level where the bearish trajectory's red arrow shows. The stock might reverse or not at this level. I'll have to reassess if I see the playout of my bearish expectation.
Conclusion
Ultimately, the direction of Palantir's stock price will depend on a variety of factors, including the company's financial performance, the overall market conditions, and investor sentiment. It is always important to do your own research and consult with a financial advisor before making any trading decisions.
Kind regards,
Ely
Palantir possible stong bouncePalantir approaching medium term trendline
Good entry point to start new upside movement
I'm shorting somethingJust bought puts exp. 12/29 strike 17.5. I'm so bullish on the market that I want to hedge a little bit.
Price is forming a bearish flag after a HS. Looks very bearish in short term. I'm giving it a shot, I think is to break down soon.
15 and then 28?It looks bearish and remain so for couple of months, it could hit 15 and if it forms a base around 15, then expect it to move higher towards 28. This could all happen by July-Oct 24. Happy trading !!
PLTR AnalysisPrice consolidated last week given that it's the last week of the year with the market slowing down. Someone asked if I will accumulate more here. I'll probably be waiting for price to hit my target of $16 before I accumulate. No changes to my original expectations.
PLTR: near term pivot pointsLove using monthly time frame. We're coming to a point where PLTR will break out the first half of the year. My best guess is up given typical macro trends during intra-election years. Although as always it's anyone's guess as it could break downward if we learn of a negative macro event such as a large war or another major country's economic collapse. Anything is possible as we've seen these past couple years.
