PTX trade ideas
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
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.
