Up-swing channelA nice up-swing channel formed for PTLR.
This is another AI company with real business case.
PTX trade ideas
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! 🚀📊
Short on PalantirPalantir's stock is facing several risks that could justify a short position. Its overvaluation is evident, trading at a P/E ratio of around 247 after a 150% surge in 2024, implying that future growth is heavily priced in; if the company doesn't meet these expectations, a sharp correction could occur. Insider selling over the past 90 days has raised doubts about confidence in Palantir’s future, despite some sales being pre-planned. The stock's gains are tied closely to the AI boom, but there's skepticism over whether Palantir's contracts can maintain momentum, leading to concerns that AI hype may not translate into sustainable growth. Analysts give the stock a "Reduce" rating with a consensus target suggesting a 33% downside, highlighting the potential risk of a pullback.
Furthermore, the stock appears technically overbought, increasing the likelihood of profit-taking and a subsequent decline. Also, it is posible that Palantir is done with the fifth and the last Elliott Wave, and ABC corrective wave are incoming, hence entering a short position (Put) at price $42.00, first target price $32.0 at the 0.5 Fibonacci retracement line, and the second target price 0.382 Fib retracement line $24.0.
A less than perfect earning will help us to get there.
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.
Reversal PatternIt is not a strong Reversal Pattern that may be built this week. Anyway it does not look like a continuation of the rise. The momentum is declining at least. A short position may be not harmful after this uncorrected parabolic rise since August.
PLTR this morning (10/16/24)Key Observations:
Price Levels:
The current price is near $42.35 with notable support at around $41.54, as highlighted by the
volume profile.
Resistance seems to be around the $43.67 level, with a smaller volume zone just above, suggesting that price could face less resistance on a break higher.
Volume:
There was a notable spike in volume recently, indicating increased interest. However, this may suggest uncertainty as prices haven't decisively moved upward or downward.
Moving Averages:
The short-term moving averages (likely the 9 EMA and 21 EMA) are showing a slight downtrend as price continues to trade below them, indicating a bearish sentiment in the short term.
MACD:
The MACD histogram is showing some bullish divergence, as it has been ticking upwards even though the price has been moving down slightly. This could suggest potential buying pressure or an upcoming reversal.
Volume Profile (Visible Range):
Significant volume is concentrated around the $42.35 - $42.44 zone, which might act as a pivot for price action today.
The Point of Control (POC) is lower near the $41.54 level, which could be tested if sellers gain control. A breakdown below that level could lead to a steeper drop toward $41.15 and lower levels.
End-of-Day Outlook:
Bullish Scenario:
If PLTR can reclaim $43.00 and hold above it, there's a chance it could test $43.67 resistance. Given the relatively thin volume zone above that, a breakout could push the price higher toward the $44.39 zone.
Bearish Scenario:
A failure to hold above $42.00 could see PLTR retest the $41.54 level. A breakdown below this level opens up the possibility of a move toward $41.15 and possibly lower by end-of-day if selling pressure intensifies.
Given the indicators and recent price action, the short-term trend is bearish, but the slight bullish divergence in the MACD suggests a possible reversal later in the session if buyers step in. Keep an eye on the $42.00 zone as a critical level for bulls to defend to avoid a further sell-off.
Disclaimer: The information provided is for educational and informational purposes only and should not be considered financial or investment advice. Always conduct your own research or consult a professional before making any trading decisions. Trading involves risk, and past performance is not indicative of future results.
$PLTR 9/25/24 Heading Down...Despite strong revenue growth in recent years, the company trades at high price-to-sales (P/S) and price-to-earnings (P/E) ratios compared to peers in the software and analytics space.
The company’s early reliance on government contracts has been a strength, but its pivot to expand commercial operations has faced increasing competition.
A significant portion of Palantir’s revenue still comes from government contracts, particularly in defense and intelligence. While this provides stable income, it also exposes Palantir to regulatory risks, changes in government policy, and budgetary constraints.
Palantir has positioned itself as a key player in AI, particularly with its “AIP” platform that integrates AI into its existing data analytics offerings. However, while AI has generated substantial buzz and investor enthusiasm, there is a risk that the market has overpriced Palantir's potential in this space.
While Palantir’s government business is well-established, its ability to penetrate the commercial market at scale remains in question.
The landscape for data analytics, AI, and machine learning is highly competitive. Palantir competes against a broad array of players, from specialized startups to large tech giants.
PLTR: Will Support Hold for Tomorrow. (10/15/2024)Key Levels and Observations:
Support Levels:
$42.63: This level continues to be a strong support, with the price respecting it multiple times. If it breaks, the next support to watch would be around $41.19.
$43.00: A minor support level that aligns with the current consolidation. If this holds, it could provide a good entry point for an upward move.
Resistance Levels:
$44.39: This is the same upper resistance zone from the previous analysis. It remains a key target for bulls if PLTR breaks higher. Any strong momentum above this level could lead to a push toward the $45 area.
Trendline:
There’s a clear ascending trendline providing additional support. Price currently sits close to this trendline, so any break below it could signal a bearish reversal or deeper pullback toward $42.63.
Volume and MACD:
Volume appears to be declining, indicating that the stock is consolidating. Watch for a volume spike in either direction to confirm a breakout.
The MACD is still in a neutral range, with little momentum. It would be important to watch for any crossovers or divergence to confirm a directional move.
Trading Plan for Tomorrow:
Bullish Scenario:
If the price stays above $43.00 and reclaims $43.50, watch for a potential move toward $44.39.
Entry: Above $43.50.
Target: First target $44.39, second target $45.00.
Stop-loss: Below $43.00.
Bearish Scenario:
A break below the ascending trendline and $43.00 could indicate a drop toward $42.63 or lower.
Entry: Below $43.00.
Target: First target $42.63, second target $41.50.
Stop-loss: Above $43.50.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research and consult with a financial advisor before making any trading decisions. Trading involves risk, and past performance is not indicative of future results.
PLTR Technical Analysis for Tomorrow (10/14/2024)1. Trend & Price Action:
Ascending Trendline: PLTR is following a rising trendline, but the price appears to be consolidating just below recent highs. A break of this consolidation will determine the next significant move.
Support Zones:
40.28: This is an important support level. If the price pulls back, buyers might defend this area.
38.80: Deeper support is visible here. If the bearish pressure increases, this level may come into play.
Resistance Levels:
43.52 – 44.39: This is the immediate resistance zone. A breakout above 44.39 could signal further upside.
46 – 47: Higher targets are possible if momentum builds above 44.39.
2. MACD:
The MACD is hovering near neutral, suggesting a lack of momentum in either direction. Watch for any crossover to signal potential shifts in momentum tomorrow.
3. Volume Analysis:
Volume spikes have occurred around support and resistance zones, indicating heightened interest from traders. Keep an eye on volume tomorrow to confirm breakouts or breakdowns.
4. Key Levels to Watch for Tomorrow:
Support: 41.74, 40.28, and 38.80
If PLTR pulls back and holds above 41.74 or 40.28, it could offer a good entry point for a long trade.
Resistance: 43.52, 44.39
A move above 44.39 could push the stock toward the 46 – 47 zone.
Potential Trading Plan:
Bullish Scenario: If PLTR holds above 41.74 and breaks 43.52 with volume, consider long entries with a target of 44.39 or higher.
Bearish Scenario: If the price breaks below 41.74, look for short setups targeting 40.28 or even 38.80.
Disclaimer:
This analysis is for educational purposes only and is based on technical indicators. Markets carry risks, and it’s essential to conduct your own research and manage risk properly. Use stop losses and trade only what you can afford to lose.
