PLTR Short fern PLTR short term looking to form a head and shoulders on the 1hr chart. Expecting a correction towards $21-$20 range
PLTR trade ideas
#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.
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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.!
Volatility Squeeze in PalantirPalantir fell a month ago. Now, after a period of consolidation, some traders may look for the software stock to recover.
The first pattern on today’s chart is the tight volatility squeeze, illustrated by Bollinger Bandwidth in the lower study. Will the narrow price action be followed by a period of expansion?
Second is Tuesday’s last price of $22.10. It was the highest close since May 7, when PLTR dropped after earnings. That may suggest buyers are getting more interested in the name.
Third, a series of higher weekly closes may also reflect bullish sentiment.
Finally, PLTR has hugged its rising 100-day simple moving average since late April. The 8-day exponential moving average (EMA) is also nearing a potential cross above the 21-day EMA. Those patterns may indicate positive trends over the short and longer terms.
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Palantir Technologies, Inc. Palantir Technologies, Inc. engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies. The company was founded by Alexander Ceadmon Karp, Peter Andreas Thiel, Stephen Cohen, and Nathan Dale Gettings in 2003 and is headquartered in Denver, CO.
Plantir - Strong buying pressure emerging yesterdayNYSE:PLTR Plantir's year long uptrend remain intact and though the trend between 7 mar 24 to present is looking at a distributive phase, the stock is likely heading for another buying climax with a mid-term target of 30.33. Meanwhile, 17.78 support could be a level of entry as well should there be a pullback.
3 lines to rule them all....Pltr looks ready... it's go time baby
At first glance, it may look as if these horizontals are just casually thrown around, but i assure you these are surgically placed monthly support levels which will be tested.
Green = Support
Red = Resistance
I expect a move to $25 soon
PLTR: Buy ideaBuy idea on PLTR as you see on the chart because we have the breakout with force the resistance line and the vwap by a big green candle follow by a large green volume.!
How PLTR plays out tomorrow (June 3) forcastDisclaimer: This is for study purposes only and does not constitute financial advice. You are responsible for your own trading risks.
1. Overall Trend and Key Indicators
Trend Analysis: The chart shows a 15-minute timeframe. There appears to be an upward trend forming as the price is currently above the moving average lines (red and purple lines) after a previous downward correction.
Volume: The volume is noted in green and appears to be relatively high at 848,002, which may suggest strong interest in the stock at these levels.
2. Support and Resistance Levels
Support: The support level is indicated at around $21.03, as shown by the blue horizontal line labeled "Low."
Resistance: The resistance level is at $22.20, as indicated by the green horizontal line labeled "High." There is also a minor resistance around $21.80.
3. Notable Patterns or Technical Signals
Moving Averages: The chart includes moving averages that the price is trading above, indicating potential bullish momentum.
Candlestick Patterns: Recent candlestick patterns indicate bullishness as there are green candlesticks forming a potential reversal from the previous decline.
Technical Indicators: The MACD (Moving Average Convergence Divergence) at the bottom shows a bullish crossover, indicating potential upward momentum.
4. Bullish or Bearish Outlook
Based on the analysis:
Bullish Indicators: The price is currently above the moving averages, there is a bullish MACD crossover, and the candlestick pattern suggests a reversal from the downtrend.
Bearish Indicators: Any potential bearish signal would arise if the price fails to break above the resistance level at $21.80 or drops below the support at $21.03.
Suggestion for Tomorrow's Trade
Bullish Scenario: If the price breaks above the immediate resistance level of $21.80, it is likely to test the next resistance at $22.20. In this case, consider entering a long position with a target near $22.20 and a stop-loss just below $21.60 to manage risk.
Bearish Scenario: If the price fails to hold above the support at $21.60 and drops below $21.03, it might continue downwards. In this case, consider entering a short position with a target near $20.80 (next potential support) and a stop-loss just above $21.30.
Conclusion
Based on the current chart indicators, PLTR appears to have a bullish setup for tomorrow, provided it breaks above the resistance at $21.80. Monitor these key levels and use the support and resistance to guide your trade decisions. Adjust your strategy based on how the stock performs relative to these levels.
PLTR big bullish move these coming weeks Weekly Chart Monthly chart is showing a strong monthly Break and retest of the Support/Resistance level.
Price has been struggling to push up from July 2023 to Feb 2024. And we see price finally breaking above S/R level with strong bullish momentum. Expected the price to come back down for a quick retest. Currently price is sitting on Support level with Month of May candle being a doji candle. Showing there is no selling pressure nor buying pressure. Waiting for the next big news event.
Going into the Weekly Chart, we can see a clear bullish structure. Price is making HH and HL.
Price has also pulled back correctively into 50-61.8 FIB.
We also have a bullish trendline. The third tap of the trendline usually always gives a strong momentum with the trend.
Confluence --
1. Break and Retest of Strong Monthly S/R
2. Weekly Chart shows bullish impulsive move followed by a corrective move into 50-61.8 FIB
3. Tapping into Strong bullish trendline.
