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.
1PLTR trade ideas
Palantir 40+% gain by May 2024Earnings Monday Feb 5 after hours while high time frame RSI, macd, and stoch RSI are already oversold. Took 96 days to reach extension in 2023. Measured move back to $24 by mid April/early May.
PLTRLooking like good spot to be a buyer here atop first quarter of the whole move with d1 200 ema confluence
Seller of PLTR puts at the money (essentially getting paid to set aside cash to buy the stonk around first quarter of the whole move)
And using proceeds to buy PLTR calls out of the money, some for later in Feb as well as 2025 LEAPS
Spark CorrectedThe spark on Monday has been downward retraced now. We are testing the top of the trading range that had begun on January 8th,
Now this top may be seen as a support. A renewed uptrend may be the result of the spark now.
There are 3 obstacles on the way up but all of them would implicate a good profit.
MEME stock frenzy ,dont fall for the trick! Buy lower at14.360-!pltr is now trading 16 dot something. Don't be a bad investor or a bad trader, always try to buy at a lower price!
A reversal on the weekly will in turn provide an entry longThe current downtrend on PLTR has recently been diminishing as bears have been losing selling momentum as the price has been in a consolidation phase for the last couple of weeks since crashing from a high of 21 and losing over 20% in stock valuation since it hit a peak of 21.85 during the week of NOV 2023, which sparked a selloff as numerous insiders began to offload shares of their stock around that price.
If you were to switch over to the daily and four hour timeframe there has been a shift or pivot in price when it had bottomed around 15.50 and 16.50. Since hitting a low of 16s numerous times but successfully being bought around that price range. As we approach earnings release in early FEBUARY the slow accumulation of shares at the current price range above 16.50 to as high as 16.80 is a good sign. It has failed to break low 17s for some time but the expectation of an earnings beat and along with the electronic tech sector and tech sector as a whole receiving boost to their own valuations. The idea of AI being a dominating factor within the Artificial intelligence space is yet to end. As we near the expectation of this company of join the S&P it will be interesting to see the results at the end of this year. Currently the price has failed to fall below 14 before the last two earnings and currently has held its value above 15USD.
We are currently back on trend to the upside if support from buyers continue to prop up the price of PLTR prior to earnings release which in turn could catapult it further if the earnings beat analyst expectations and regular traders flock into the good news to come. 2024-2025 should be a turnaround for this space.
The macd an signal line have crossed and the RSI is below 50 which could spark a rally The monthly candle with enough momentum at the current price before this months end of JANUARY can in fact reverse into a green bodied bullish candle leading into an upside from a technical perspective prior to FEB earnings release. The two consecutive weekly green candles at a support of 16.10 was fantastic to see as the buyers have stepped into this price range.
Palantir: Reverse Gear and next targets 🚴📉Analyzing Palantir Technologies from its count starting in December, 2022, we've seen the development of a 5-wave cycle, concluding with the overarching Wave (1).
Currently in a Wave (2) correction, the complexity lies in an overshooting flat. A closer look reveals the start with a downward A using an overshooting flat, followed by a WXY towards an ABC correction for the overshooting Wave B.
Now, a five-part correction downwards is expected for Wave 5/C/(2).
Anticipated to fall between 50% and 78.6%, it must be below the Wave A, given the overshooting nature of Wave B.
Consequently, our crucial buying zone is situated between $12.50 and $8.75. 🚀
PLTR Pinching NYSE:PLTR
Even though PLTR is below key resistance here I like what im seeing on the MACD and RSI
plus price action has been holding this local trendline pretty well as of late
As soon as this price hits above 17 id expect a nice pop.
If this local trendline breaks towards the downside it could be a long fall for PLTR
PLTR AnalysisPrice consolidated since my last analysis. From the recent price action on the lower timeframe, we can see that price is building sell-side liquidity. Price also took liquidity at 16.84 and is unable to close above. There is also a lower timeframe fair value gap at 16.02 to be filled. Won't be surprised if price make another bearish move before continuing with the bullish order flow. No changes in my expectations.
PLTR Break out of Falling WedgePLTR has broken out of its falling wedge pattern. Expecting a big week.
Going long with some weekly lottos and 1-2 months out.
Good luck traders!
$PLTR - Was it a turn?NYSE:PLTR Bounced from the Point Of Control (POC) volume + .382 fib retracement support. See Dec 26 post for the detailed analysis and price targets.
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.
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
