Palantir Due for a Pullback?Back at its original all time high back in 2021 but looking over extended with earnings not too far away. Both MACD and RSI looking expensive.
PTX trade ideas
Palantir UpdatePalantir made a new high on Friday which could mean a couple of things. According to the white count, the first is that the wave (iv) was really short and shallow. If the relationship between wave (ii) and (iv) is to be standard, then this is most likely NOT the case. Should the white count prevail, then we would ideally target the 1.0 @ $57.07 to conclude wave 3 before kicking off wave 4, targeting the 0.786 @ $43.16.
The turquoise labels suggest that we're within wave (iii) still. If this is the case, then then we would still target the 1.0 followed by a drop to the 0.786. The main difference is what degree the count is in, and what comes next. If turquoise prevails, then I would expect it to follow the turquoise line to conclude wave 3 before wave 4 would ideally take us back down to the area of the 1.0 @ $57.07.
In short, the white wave 3 targets the 1.0 @ $57.07, while the turquoise count targets the 1.382 @ $93.95 for the conclusion of wave 3. We will know in the days / weeks to come, but these two counts are the most probable to me at this time. Both have the same longer-term target; they just differ on how we get there.
Palantir ($PLTR) IT MIGHT FINALLY BE TIME FOR A PULLBACK! 5 RY:NYSE:PLTR IT MIGHT FINALLY BE TIME FOR A PULLBACK!
Retail investors don't hate me for this. I'm a shareholder, too! DIP BUY INBOUND?!
5 REASONS WHY:
1⃣ We have DIVERGENCE on the Weekly Chart
2⃣ We have Volume Profile Gap Down
3⃣ It's a TRIM according to my Valuation Metric Tool (0/6 score)
4⃣ Top 5 gainer in AMEX:SPY
5⃣ Have a SIP and find out by watching. 👇
Stay tuned for more!🔔
Like ❤️ Follow 🤳 Share 🔂
Will Palantir finally have a pullback? What price would you like to load up on more shares?
Not financial advice.
Is Palantir in a Danger Zone? We will see after the report... Palantir is about to announce its quarterly report.
As we analyzed in the last report, the price reached its highest point after several years, but after reaching this liquidity zone, it had a pullback as we announced before.
However, Palantir is showing strength in this area, and we ended on the last candle where it will attempt again to surpass this liquidity zone with strongly.
Will it succeed?
I believe Palantir has the volume to continue moving a bit higher, but at this point is entering an area where the upward momentum is slowing significantly. On one hand, we’re seeing a double-top forming, and the candle hasn’t fully formed yet. We need to wait and see if the next candle shows liquidity. If so, we should be cautious about the wick length, as that could signal trouble for Palantir.
so with the earnings report approaching, there is a lot of uncertainty, which may make it difficult for the price to break this liquidity zone.
We should stay alert this November 4th. Palantir has excellent fundamentals, but its recent reports have barely exceeded analysts' expectations. If this report misses even by a small margin, I think we could see a significant drop due to the stock being heavily inflated.
Here are Palantir's latest results:
Nov 02, 2023
2023 (Q3)
Analysts = 0.06 / Reported = 0.07 (BEAT)
Feb 05, 2024
2023 (Q4)
0.08 / 0.08
May 06, 2024
2024 (Q1)
0.08 / 0.08
Aug 05, 2024
2024 (Q2)
0.08 / 0.09
Nov 04, 2024
2024 (Q3)
0.09 / (Mon, Nov 4)
Thank you for supporting my analysis.
TRADE SAFE!
Best regards!
PLTR short updated, parabolas dont last foreverPLTR I have been waiting for this trade for a while now. 40$ is a great psychological level, the stock is tremendously overvalued whether youre a fan or not. I personally do not like the company nor do I generally trade it. Much like my TSLA short I just did that played out nicely here we are again on an overheated cult stock rising into resistance and an important fib. I have started to enter an aggressive November 32$ strike put position. The stock is riding the top of the bollinger bands, it has run away from all the EMAs and from the already aggressive trend (teal). I think we at least revisit this weekly demand zone. We should print a rejection candle next week but maybe the market just continues this insanity higher.
My plan is to continue adding 32$ puts if we dont see this happen Monday. I will then add spreads likely December 35s for a little safer ride. I expect at least a 20% correction here maybe closer to 25%.
PLTR - Take The Money And RunIts been a long time since my client entry for PLTR back at $7 .
And now the ATH resistance is approaching.
...
PLTR printed a very tidy descending channel with strong bullish RSI divergence in the bear market.
And it had a strong breakout.
But in the uptrend it has printed an ascending channel and that is a little sign of weakness.
Of course it has then continued on up with a very strong uptrend...
But often you do get blow off phases out of ascending patterns.
And that becomes a bull trap shakeout.
From there the pattern collapses below the lower trendline:
And so that is what I think is the most probable outcome here:
This is a blow off phase and at some point down the road PLTR will fall below the lower ascending trendline.
Other factors that signal a top here are the RSI that is oversold on every time frame from the hour chart to the 3 month chart.
And it is just touching into the 2 point 1.618 extension Golden Window (1.618 - 1.786).
So this is the sell zone here and I have begun profit taking.
Once it hits ATH there may be significant sell pressure as many traders will exit there.
And in the end it may get up as high as the 1.786 overshoot ratio @$53.
But for me this trade is close to complete here.
Its been a really great run.
Title is a lyric and none of this content is advice
Up-swing channelA nice up-swing channel formed for PTLR.
This is another AI company with real business case.
PLTR almost completing rounding bottomUptrend and Bullish. So far no sell signal since first breakout in Mar 2023
Successfully breaks resistant and formed new support at 20 and 30.
Turtle, MCDX and FIFT parameters are still BULLISH except there's sign of Bearish Divergence in FIFT where buying Volume seems weakening (It's a sign, Not a Signal - Hold).
Support 30-32, Next target 40, 45.
$PLTR - all time highs incomingPLTR - holding that 9 EMA line and making a move towards all time highs. Stock is strong on indicators with earnings early next month. could see breakout of $45 soon for a move towards $50. Stock is possibly forming ascending triangle break out pattern.
Palantir Short Term CorrectionPalantir is super overbought on higher time frames!
Expecting rejection from 45$ level , into an ABC corrective wave leading to $30.
Lets see!
PLTR Technical Analysis for Oct 24, 2024:Resistance Levels:
43.49 - 43.68: This zone is a key resistance level where price has previously struggled to break above. If PLTR can push through this range, it may open room for a move towards higher levels. Look for potential bullish continuation above this level, but watch for rejection signals around 43.68.
Support Levels:
42.25: This is a crucial support area. If the price pulls back here, it may provide an opportunity for a bounce. Failure to hold this level could lead to a further decline.
41.62: This lower support should be monitored closely. A break below this level could trigger additional selling pressure, potentially setting up short opportunities.
Trendline:
The upward-sloping trendline is providing support, indicating that PLTR is still in an uptrend on a larger scale. As long as the price stays above the trendline, the bias remains bullish. A break below this trendline would signal potential weakness and a shift in trend.
Volume and Momentum:
Volume shows some bullish momentum, with buyers stepping in after a pullback. However, momentum indicators appear neutral at the moment, suggesting indecision. It’s important to watch how price behaves near key levels for confirmation.
My Thoughts for Tomorrow’s Trading:
For scalpers, focus on quick trades between 42.25 (support) and 43.49 (resistance). If PLTR breaks and holds above 43.49, it may provide an opportunity for a long trade targeting 43.68 and beyond.
For swing traders, consider going long on a retest and bounce near 42.25, or short if price breaks below the 41.62 level.
Stay vigilant for volume spikes and price reactions near these key levels.
Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Always perform your own research and use proper risk management when trading. Trading involves significant risk, and past performance is not indicative of future results.
PLTR: An Inflection Point Below the ATH!Daily Chart (Left):
Resistance at $45: The price is near the all-time high level of $45. This is a significant resistance level where the stock may face selling pressure.
Support at $40.36: Immediate support lies at $40.36, which has been tested recently. This level could act as a key support zone if the price pulls back further, but it is also a possible bearish pivot point. If PLTR loses this key point, it could trigger a bearish reversal.
21-day EMA: The price is above the 21-day EMA, reflecting the ongoing bullish trend. The EMA has been acting as dynamic support for the stock during the recent uptrend. In addition to the $40.36 support line, this makes the area around $40 a double support level, reinforcing the importance of this key point.
Weekly Chart (Right):
Hanging Man Formation: The weekly chart shows a potential "hanging man" candlestick pattern near the all-time high, which can sometimes signal a bearish reversal if confirmed by further downside action. This formation suggests caution, as it could indicate that the bulls are losing momentum at these elevated levels. However, more often than not, this pattern acts as bullish continuation, according to Bulkowski's studies.
Trend Strength: The price has been in a strong uptrend, supported by the 21-week EMA. Even though the hanging man pattern raises concerns, the overall trend remains intact unless there’s a significant breakdown below support levels.
Conclusion:
PLTR is near a critical resistance zone of $45, which aligns with its all-time high. The daily chart still shows bullish momentum, but there is a possible pivot point at $40 that could reverse the trend. A successful breakout above $45 could lead to further upside, as the bullish trend continues. For now, we should watch for confirmation of the hanging man pattern, and if it'll lsoe our key support area before considering any bearish positions.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
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.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
HFTs gaps: Learn how to enter a stock before a huge gap up.High Frequency Trading companies are market makers/takers that provide liquidity for the public exchanges, and they now use AI. HFTs have a huge impact on your profitability. You can make higher profits from trading ahead of the HFT gaps and riding the momentum upward or downward.
In this short video, you'll learn some basics on how to identify the patterns that precede HFT gaps, which I call Pro Trader Nudges . Learn what to look for in Volume patterns and pre-gap price action.
Make sure you are not chasing HFTs but riding the wave of momentum they create, just like professional traders do.
PLTR Technical Analysis for Oct. 22, 2024Key Levels:
Resistance levels:
44.39: This is a significant resistance level, representing a high from a recent attempt to push upward.
43.40: Another resistance level, closer to the current price action, which needs to be broken for further upside.
Support levels:
42.88: Immediate support level where PLTR is hovering around, indicating a potential area to watch for a bounce or breakdown.
41.68: Lower support zone, which could act as a safety net if the price drops below the immediate support.
40.36: A major support zone from past price action, which could potentially provide a strong reversal if price reaches this level.
Trend and Price Action:
Ascending Trendline: There is an upward trendline, but the price appears to have retraced from the upper bounds of the trendline. This could signal potential weakness in the short term unless the price finds support and rallies.
Consolidation: The price is in a consolidation range between 42.88 and 43.40, meaning there might be indecision before a stronger move either up or down.
Volume:
Volume is modest, which indicates that there’s no clear momentum in either direction. A rise in volume at these key levels could give more clarity about the next move.
Indicators:
MACD below the chart show indecision, price action may be choppy before a clear trend emerges.
Scenario 1: Bullish Breakout
If PLTR breaks above 43.40, it could aim for 44.39, and a further breakout could open the door to additional upside momentum.
Scenario 2: Bearish Breakdown
If PLTR breaks below 42.88, watch for support at 41.68 and potentially down to 40.36 if bearish momentum strengthens.
Recommendation:
Long positions could be considered if PLTR breaks above 43.40, with a target at 44.39. Volume confirmation is important.
Short positions could be entered if PLTR breaks below 42.88, targeting the lower support levels.
Disclaimer:
This analysis is for educational purposes and not financial advice. Trading involves risk, and you should only invest funds you can afford to lose. Always perform your own research and consult with a financial advisor before making any trading decisions.
Palantir Update - New ticker coverageThe last post I made covering PLTR I showed the 4hr chart with my long-term projections. This chart I wanted to zoom in a little showing the more immediate pathway in front of us. Per my usual I have two different counts on the chart. These two counts, however, have the same end point. The difference is the pathway price will take to get there.
The white count suggests that our wave 2 abc pattern was irregular, and we're now within the wave iv of 3 of (3). This should take us to the small target box from $40.25-$37.88. Afterwards the upward trend should resume bringing us to the larger target box finishing wave 3 of (3).
The ALT implies that the wave (i) was abnormal. If you follow that pattern, it suggests the wave (iv) price is currently in, will be a little deeper. We shall find out soon enough but for now the white count is my primary thesis.
I do want to note that the wave (iv) could already be over with price headed up to the larger target box from here. If we can make it to the smaller target box I will enter into a position with a stop in place. If not, I will wait until we retrace for wave 4 of (3) to enter into any positions.
PLTR Technical Analysis for Tomorrow Oct 21, 2024Descending Trendline Break:
I can observe that PLTR recently broke out of a descending trendline, indicating a potential shift from bearish to bullish momentum. This breakout suggests that buyers are regaining control, at least in the short term.
After the breakout, the price is trending upward steadily, moving away from the previous resistance, now turning it into potential support.
Support and Resistance Levels:
42.68 and 42.99: These levels could act as key resistances in the near term. If price breaks above 42.99, it may target the 44.39 level.
41.66: Now serving as a support zone after the breakout. It’s critical that price stays above this level to maintain bullish momentum.
42.00: A psychological level acting as a midpoint and soft support; any rejection from resistance might find buyers here.
Order Block and Volume Analysis:
There's a green order block zone near the recent breakout, indicating prior accumulation. If price retraces to this zone (~41.50-42.00), it could attract more buyers.
Volume hasn’t significantly spiked after the breakout, hinting at a need for further confirmation. Watch for increasing volume on the next upward push to validate bullish continuation.
MACD Indicator:
The MACD histogram is printing small positive bars, suggesting that bullish momentum is building, albeit slowly.
The signal lines are above zero but flat, which indicates a neutral momentum. This could mean the stock is either consolidating before another push higher or losing strength.
Possible Scenarios:
Bullish Case: If PLTR clears 42.99 convincingly, it will likely test 44.39, a previous key resistance.
Bearish Case: If PLTR fails to hold above 41.66, the stock could revisit the 41.00–40.36 zone for support. Breaking below 40.36 could shift the trend bearish.
My Thoughts & Strategic Viewpoint:
This breakout from the descending trendline looks promising for bullish traders, especially with the formation of higher highs and higher lows. However, the lack of volume indicates caution—bulls need stronger follow-through for sustained upside.
For scalpers or intraday traders:
Long entry near 42.68 with a stop loss just below 41.66 makes sense.
For bearish plays, watch for rejection around 42.99 to scalp a retracement back towards the order block near 41.50.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Trading stocks and ETFs involves risk, and you should consult with a licensed financial advisor or conduct your own research before making any decisions.
PLTR Elliott-Wave analysisPLTR Sentiment is very strong.
I think we still have upsidepotential for quite a while.
On short timeframe im expecting a gentle pullback to charge some energy.
Palantir Validated a Liquidity Zone, Whats Next? If you saw my previous structural analysis, I had mentioned that Palantir was going to hit an institutional liquidity zone, and for the first time in several years, using common sense, the price was going to face rejection.
And that’s exactly what happened...
The price hit my point of interest and dropped for 3 days. However, the last candle with which we closed the week was green and had enough volume.
Why is this? If we can see 2 candles before the close, we can detect a trap that created a long wick downward, preventing the price from falling further. That’s the detail we're seeing before the week’s close—the last candle was bullish. We also can’t ignore that Palantir is only about 2 weeks away from its earnings report.
So, I don’t think the price will make a decisive move just yet, and even if it falls further, it would likely be around 38.50. However, the earnings strategy that traders are waiting for, where Palantir accumulates and begins to rise, is very close. So, we need to be very alert as we approach its earnings report on November 4th.
Best regards, and thank you for supporting my analysis.
$PLTR #PLTR Ascending Triangle ATH break or Potential ReversalOver these next few trading days I will keep my eyes focused on these Palintir levels as we get closer to a potential retest from Octobers supply zone where we may see a break above to attempt a new all time high.
While an all time high attempt sounds great there is also the possibility that Palintir will see a rejection from supply a zone or even a potential breakdown from the wedge support. Where we will meet multiple key retracement levels including some strong support levels.
Using the RSI indicator we can see that Palintir is overbought and could see potential selling. I will remain neutral on my decision till the breakout comes.
Palantir at a Critical Turning Point – Big Moves on the HorizonAlright, here’s the deal with PLTR. I’ve been keeping a close eye on it, and right now, it feels like we’re standing at a fork in the trail—one direction leads to a nice payday, the other to a bit of backtracking. The next couple of moves will tell us which way we’re headed.
We’re hovering around 42.75 right now, and if we can break above that with some force, 43.91 is my first target—good spot to lock in some profits. But here’s the thing: if we can clear 44, that’s where the real fun begins. That’s the confirmation we’re looking for, and from there, I think this could open up a much bigger move.
On the other hand, if 41.65 doesn’t hold, things could get a bit rocky. I’ll be looking for price to drift down into the 41.28 - 41.00 range. Not ideal, but hey, markets don’t move in straight lines. That’s where I’ll watch for buyers to step back in and give us another shot at the upside.
The key here is patience. If we get the breakout, I’m ready to ride the wave. If we pull back, no sweat—I’m not in the business of chasing trades. You gotta play this game cool, stick to the levels, and wait for the setup to come to you. No need to rush it.
It’s kind of like hiking. Sometimes the first path up the hill looks tempting, but the trail turns steep, and you gotta fall back to find a better route. But when you do find that clean path—man, the view is worth the wait. That’s exactly what this trade feels like. If we clear 44, we’ve got some clear skies ahead, and I’ll be ready for the ride. But if not, I’m content to step back and wait for the next chance to make my move.
Let’s see where this takes us—either way, it’s gonna be an interesting climb.
Mindbloome trader
PLTR Technical Analysis for October 18, 2024Current Market Structure
From the 1-hour chart, PLTR appears to be moving in a descending wedge pattern, suggesting potential consolidation with a possible breakout. Here are the key levels and insights:
Support Levels:
41.93: Immediate support level, acting as a pivot zone in the current consolidation.
40.37: A critical support level. A break below this could indicate further downside momentum.
38.78: Strong support near the recent low; this level could act as a bounce zone if prices dip further.
Resistance Levels:
42.68: Immediate resistance—if the price reclaims this level, it could build bullish momentum.
44.51: The next target if PLTR breaks out of the wedge to the upside. Watch for volume confirmation if this level is tested.
Descending Wedge:
This pattern often signals an eventual breakout. If PLTR manages to hold above support zones and breaks upward through the wedge, we could see bullish action. Conversely, if it continues to grind lower within the wedge, expect increased selling pressure.
Indicators & Volume Insights
MACD: Currently flat, indicating limited momentum. Traders should monitor for a potential MACD crossover, which could signal the start of a new trend.
Volume: We’re seeing declining volume, typical for consolidation. A breakout from the wedge with increasing volume would confirm a valid move.
Potential Scenarios for Tomorrow:
Bullish Case: A breakout above 42.68 with volume could target 44.51. Look for the price to hold above the wedge trendline for confirmation.
Bearish Case: If PLTR drops below 40.37, the next significant support is 38.78. This would indicate bearish continuation and potentially more downside.
--------------------------------------------------------------------------------
Why Some Traders Profit While Others Struggle Using the Same TA
Even when using identical technical setups, traders often experience different results due to several factors:
Psychological Discipline: Successful traders remain patient and follow their strategies without emotions interfering.
Risk Management: Proper position sizing and use of stop losses are key. Over-leveraging or holding onto losing trades leads to losses.
Execution: Precise timing and quick decision-making play a crucial role in scalping or short-term trading.
Adaptability: Markets are dynamic. Those who adjust their strategies based on new data perform better than those who stick rigidly to a plan.
If you’ve struggled with trading, focus on emotional control, plan execution, and risk management. These are essential regardless of the technical strategy used.
Disclaimer
This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and trade with capital you can afford to lose. Market conditions can change rapidly, so stay informed and disciplined.
Feel free to PM me if you have any questions or need further insights. Happy trading! 🚀📊
PLTR Technical Analysis – October 17, 2024Current Price Overview:
Ask: 41.82
Bid: 41.81
Last Low: 40.36
Current Resistance: 42.86
Major Support: 40.37
Key Observations:
Trendlines & Price Action:
A descending trendline is visible, which suggests bearish pressure is dominant.
The price is hovering around the 41.82 region, consolidating after a sell-off.
If the 41.62 level (recent low) fails to hold, expect a retest toward 40.37.
Upward breakout potential: A move above 42.86 would signal bulls regaining momentum and could push PLTR toward 43.83 or higher.
Volume Analysis:
Lower volume near the consolidation suggests indecision or a pause in bearish movement.
However, a significant red candle with higher volume earlier indicates sellers were active. Be cautious about further downside unless buying volume picks up.
MACD Indicator:
The MACD histogram shows recent bearish momentum but no extreme divergence.
If the MACD line crosses above the signal line later in the day, a short-term reversal could occur.
Scenario Analysis for End of Day:
Bearish Case:
A breakdown below 41.62 may lead to a drop toward 40.37 support. If sellers dominate, expect a close near this level by day’s end.
Bullish Case:
If PLTR holds 41.82 and reclaims 42.86, we may see a late-day rally with a potential close near 43.50 or higher.
Trading Strategy:
Short Setup:
Enter short if 41.62 breaks with volume, targeting 40.37.
Use 42.00 as a stop-loss to manage risk.
Long Setup:
Consider a long position if the price reclaims 42.86, targeting 43.83.
Set a stop-loss below 41.50 to minimize risk.
Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Always perform your own research and consult with a professional before making any trading decisions. Trading involves risks, and you may lose more than your initial investment.
