PLTR which side of this trade are you onUpdated, alleged mild slope channel. This is a massive slope, waaaaaaay overboard to the upside. I still think we see 32$ in the coming weeks, the RSI is way overheated, volume is not great either.
PLTR trade ideas
PLTR heads up at $40.39: look for Pullback or Break-n-RetestPLTR has been climbing fast.
Now at a key resistance zone.
Likely to get a pullback here.
$ 40.39 - 41.19 is the exact resistance.
$ 36.00 - 37.08 is a strong support zone.
$ 43.11 - 43.73 is next resistance above.
===================================
PLTRSuper extended here At ATH...
Out of all the 2020/2021 Spacs that IPO, PLTR defied the odds and outperformed.
I think a pullback is coming for that 30$ gap close but a drop that steep won't come without some company specific negative catalyst.
Last time price was this extended technically on PLTR was July 31 of this year.. price corrected 30% over the next 2weeks.
For now I'm looking for a pullback to 38 gap close and most likely 36 fib support. No timetable for this draw down but considering PLTR range of movement we could see 36$ by 10/25.
Like I said, 30 would be the long term short but 36 will be hard to breach without a negative catalyst (Earnings).. I take profit at 36..
And yes permabulls there is a possibility of a major cup and handle at play if 30ish holds but that handle will likely take weeks to form which means chop and consolidation at between 30-36
Stop losses over 46.00
Palantir Technologies Inc. (PLTR) All-Time High: Let Me Explain!You don't need to be a genius to figure this one out and you do not need any experience... This is an easy chart, let me explain.
In January 2021 PLTR produced an All-Time High. As is usual and normal, after strong bullish action a correction follows.
The establishment of this All-Time High signaled the end of the bullish wave; the start of the bearish cycle.
We have the classic correction (ABC-Bear-market). This is followed by sideways action (blue channel) and then a new bullish wave (5-up wave pattern).
Palantir Technologies (PLTR) is still within the bullish impulse.
The highest volume happened February 2024. This is the third wave (the highest volume always comes on the third wave).
A higher high compared to February is happening now, there is high volume in September but lower than February. This is the fifth wave. The fifth wave signals the end of the bullish impulse.
Prices can go higher. There can be one, two, three weeks green and then a crash, or it can crash starting Monday. The fifth and final wave is the speculative wave so anything goes, but after the completion of this wave a crash comes.
We have a long-term lower high when we compared October 2024 vs January 2021.
A correction comes next, another ABC.
After the correction comes consolidation and then a new bull-market.
MA200 is the next and main support. That is, PLTR is moving toward 18.
Namaste.
PLTR Analysis: Wave 5 Reaching Its PeakDon't get carried away by the hype. 📉 We're currently in wave 5 of the Elliott Wave cycle, where the market sentiment is at its highest, and those who invested earlier have already secured gains of over 150% 💰.
Ask yourself—will these investors hold or start taking profits? 🤔
Historically, when a stock is all over the news, it signals that we're nearing the top. 🚨
🔴 RSI Alert: The RSI is extremely high, and we are entering a phase of extreme greed.
This is a classic sign that a reversal may be on the horizon.
We're now in the distribution phase, where smart money is selling before the blow-off phase begins.
Be ready for a potential correction and retracement. ⚠️
📊 Key Takeaways:
We're in wave 5 of the Elliott Wave cycle.
RSI is high, signaling overbought conditions.
The extreme greed phase could lead to a sharp pullback.
Monitor for signs of a blow-off top and be cautious of overexposure.
Stay vigilant and watch the levels closely.
This could be a turning point! 📉
Disclaimer: I'm not a financial advisor.
This analysis is for informational purposes only. Always do your own research before making any investment decisions.
#PLTR #ElliottWave #RSI #StockMarket #ExtremeGreed #InvestSmart #TechnicalAnalysis #MarketPsychology #TradingView
PLTR: Watch out for these turning points! (D&W charts)PLTR broke through the resistance at $38 that we warned about in our last study, triggering another bullish continuation pattern. It has also broken through an important resistance on the weekly chart, which further reinforces the bullish bias.
Now we have to update the main turning points to keep an eye on over the next few days. The link to our previous study is below this post, as usual.
Daily Chart (Left):
Higher Highs and Higher Lows: The price structure on the daily chart shows a consistent pattern of higher highs and higher lows, suggesting strong bullish momentum. This pattern indicates that buyers are stepping in at higher levels after each retracement, maintaining the trend.
Support Levels: Immediate support is found around $38.30, which aligns with a previous minor resistance zone that was broken and turned into support. Below that, $36.05 remains a significant support level, as it is near tthe 21-day EMA, making this a double support area. PLTR needs to lose this key point in order to reverse the mid-term trend and trigger a sharper correction in the weekly chart. PLTR would need to lose the double support level seen on the daily chart is order to trigger a pullback.
Gap at $31.04 (D) + 21-Week EMA: These two key points would act as targetts if a sharper correction materializes. The gap at $31.04 seen on the daily chart could work as a magnet, attracting the price to lower levels, while the 21-week EMA is another reliable support level on the weekly chart.
Weekly Chart (Right):
Ascending Channel: PLTR has been trading within an ascending channel since mid-2023, respecting both the upper and lower trendlines. The price broke the upper boundary of this channel, indicating a potential acceleration of the bullish momentum towards its next target.
All-Time High Target: The all-time high for PLTR is around $45.00, and it is its next resistance level, meaning, it is our next target.
Conclusion:
PLTR’s bullish momentum is well-supported on both the daily and weekly charts. The price is maintaining a solid structure of higher highs and lows, with $36.05 acting as the nearest support and $41.00 as the immediate resistance. If the price manages to break through $41.00 convincingly, the all-time high at $45.00 could be tested. A sustained breakout above the ascending channel on the weekly chart would further confirm the continuation of the uptrend. Traders might consider waiting for a confirmed breakout above $41.00 or watching for a potential pullback to $36.05 as a safer entry point.
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.
Should we Long or Short on PLTR (10/11/2024)?Price Action:
Current Resistance: The stock is near resistance at $43.87, which is testing the highs of the current trend. A clear breakout above this level would signal continued bullish momentum.
Support Levels: The key support areas are at $41.23 and $40.12, with the latter being a significant level where buyers stepped in during the previous dips.
Uptrend: There is a strong upward trendline providing support from the lows seen earlier in October. This trendline may serve as dynamic support if the price pulls back.
Direction:
Bullish Scenario: If PLTR can break and hold above $43.87, it could continue its upward movement with a target toward the next psychological level of $45 or higher. Watch for volume spikes on the breakout to confirm strength.
Bearish Scenario: If the price fails to break resistance and begins to fall, look for potential support at $41.23. A break below this level could lead to a further decline toward $40.12 or the lower order block near $38.80.
Volume and Indicators:
Volume: Volume has tapered off slightly as the stock reaches the resistance level. Increased volume will be needed for a significant breakout.
Momentum Oscillators: Mixed signals from momentum oscillators suggest that the price could either consolidate at current levels or experience volatility in the short term. Watch for shifts in momentum to confirm direction.
Order Block:
Bullish Order Block: Around $38.80 - $40.12, a previous consolidation zone, suggests significant buying interest. If the stock falls back into this range, it could find support and possibly rally.
Strategy:
For long positions, consider entering on a breakout above $43.87 with volume confirmation. Target the next resistance level or ride the trend if volume picks up.
For short positions, look for failure at $43.87 or a break below $41.23 with a potential target at $40.12 or the order block near $38.80.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research or consult with a licensed financial advisor before making any investment decisions.
$PLTR Finding that Perfect EntryNYSE:PLTR is a stock that will easily be a 300$+
Not only does it have government contracts, consumer based equipment artificial intelligence monitoring systems; this company has plans to program the programmer.
It has already dug into fully integrated touchpoint systems that any person can use, to fully program from scratch any product, game or software utilizing point and click mythologies.
This is a holy grail for advancement of the human race.
As we can see, NYSE:PLTR has taken off after squeezing out the shortie hedge funds.
Like many stocks right now, this one is headed to it's next 1.618 extension level on the all time level.
Once we begin the pullback at this level of around 63.99$, you can expect between 60% and more likely 70% retracement of the move off demand for our next buy in at between 15 and 20$.
Be ready, formulate and execute your plan.
ANALIZING PALANTIR ITS JUST COMMON SENSE... BUT BE VERY CAREFULLLet’s welcome Palantir (PLTR) into the weekend analysis!
As we can see in the chart, today I wanted to do general structure analysis not too specific, as we are practically touching the highest level again in nearly 4 years.
Congratulations to all who bought at $12–16 per share and are still holding Palantir, but as I show in the chart, from point A to point B, it took almost 4 years to reach these levels again.
But here’s my question: WHAT WOULD YOU DO IF YOU BOUGHT AROUND $40 IN 2021?
I’d love to know, as this situation can greatly influence each person’s psychology when making a fundamental decision in trading.
(LEAVE YOUR OPINION IN THE COMMENTS)
I want you to know that I don’t just focus on price analysis. I also study company valuation. Based on a fundamental analysis of its balance sheet and recent moves by PLTR, I’ve concluded that Palantir is currently 171% above its intrinsic value.
In my personal opinion, my decision leans more toward common sense…
What do I mean?
1. Palantir is 171% overvalued.
2. Palantir is diluting its investors like crazy! In every quarterly report.
Do you know what dilution is?
Stock dilution can be harmful to shareholders because the value of each share is reduced, even though the investor holds the same number of shares. This is because the total value of the company doesn’t increase proportionally with the number of shares.
Palantir is an excellent company, although it’s a bit complicated to understand what they do and how they make money. But in my personal opinion, a company that dilutes its investors is nothing but a red flag to me—and a big red flag—because I call this the silent killer for investors.
At this point, PLTR is more on the hype side!
If Palantir reports well in November, we could see the stock above $50 per share, BUT if Palantir reports anything that doesn’t meet investor expectations, any data that falls short… Buckle up!
But how much could it fall? The truth is, I don’t know. But if we base it on technical analysis, I have an important inflection point (purple zone) where I expect the price to bounce after a sharp drop. BUT CAUTION! Only if Palantir doesn’t meet expectations.
An inflection point in trading refers to a critical moment on a price chart where the trend or price direction is expected to change. It marks the transition from one phase of price movement to another, often signaling a turning point in market sentiment or momentum. Traders pay close attention to inflection points as they may indicate a radical trend shift.
Traders use these points to adjust their strategies, such as entering or exiting positions, to capitalize on the expected change in price direction.
BUT WHAT WILL REALLY HAPPEN? I don’t know, maybe this time it will be different—who knows? But the only thing I can tell you is that numbers don’t lie, and neither does price action.
So, I hope the decision you make is the right one!
Thank you for supporting this analysis.
Sending you my best regards!
PLTR short updated, parabolas dont last foreverPLTR I have been waiting for this trade for a while now. 40$ 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%.
PALANTIR Sell signal at the top of the 15-month Channel Up.Palantir (PLTR) gave us a solid buy signal 3 months ago (June 24, see chart below) as it respected the recurring bottom sequences within the 15-month Channel Up:
Right now the price has been consolidating after a direct hit at the top (Higher Highs trend-line) of the Channel Up. The 1D RSI got overbought and started pulling-back on a standard Bearish Divergence, a formation which three time within this pattern turned-out to be a solid sell signal.
The dashed Channel Up gives us a short-term Target on its bottom, which is where the 1D MA50 (blue trend-line) is trading at and is the short-term Support. That is our Target currently (Target 1 = 34.50).
If and only if, we close a 1D candle below the 1D MA50, we will open a new sell, as it will be a bearish break-out signal. In that case, we will target a potential near contact with the 1D MA200 (orange trend-line), which is the long-term Support and where the remarkable buy entries of August 05 and January 31 were provided (Target 2 = 29.50).
Keep in mind that the most optimal buy entry for the long-term (since May 2023) has been given by the 1D RSI and more specifically when it hits its Support Zone. We will continue to place buy long-term buys accordingly.
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PLTRchart update on pltr. sure this alignes with my previous post but wanted to reapproach since were puishing the ath and the elvels i charted have already hit by now. here are the upside targets, but theyre far away
PLTR: Will the Bullish Trend Continue? (10/10/2024)Key Levels:
Resistance:
43.34: This level marks the recent high, which could act as resistance if the price attempts to push upward.
43.02: Slightly below the high, this could also act as a minor resistance level.
Support:
41.21 - 41.45: A potential support zone, as shown by the red lines on the chart, may hold up the price if a pullback occurs.
40.29: This level aligns with previous price action and could serve as strong support if the price drops further.
38.79: A deeper support level, acting as the last significant low in case of a larger pullback.
Trend and Indicators:
Trendline: The upward trend is still intact based on the diagonal line drawn, indicating bullish momentum. However, the price has started to consolidate near the top of the trendline, showing signs of potential exhaustion or a pullback.
MACD: Currently showing a slight bearish crossover below the zero line, which could signal short-term weakness. Keep an eye on whether this bearish divergence continues, as it may indicate downward momentum.
Strategy for Tomorrow:
Bullish Scenario: If PLTR holds above the 41.45 - 41.21 support zone and breaks through the 43.34 resistance, it could signal a continuation of the uptrend. Watch for increased volume to confirm the breakout.
Bearish Scenario: If PLTR fails to hold above 41.21, look for a potential drop towards the 40.29 support level. A break below that could send the price towards 38.79, especially if bearish momentum continues on the MACD.
Disclaimer:
This analysis is for informational purposes only and not financial advice. Always conduct your own research and consider consulting with a professional before making trading decisions.
PLTR Technical Analysis October 9, 2024Price Action:
Current Price: $41.65, with a high at $42.12.
Trend: PLTR is in a strong bullish trend, having recently broken above the key resistance at $40.29. It has been making higher highs and higher lows.
Key Levels:
Support:
Immediate support at $40.29 (previous resistance turned support).
Lower support at $38.89 where the price consolidated before the recent breakout.
Resistance:
Immediate resistance at $42.12, which is the recent high.
Further resistance can be expected near $43, a psychological level and potential next target for bulls.
Indicators:
MACD: Showing bullish momentum, with the MACD line moving above the signal line, confirming the upward trend.
Trading Plan:
For Bulls: A continuation above $42.12 could target the $43 level or higher. Consider entries on pullbacks near the $40.29 support, with stops below $40.
For Bears: A rejection from $42.12 or a break below $40.29 could lead to a retracement towards the $38.89 support zone.
Outlook for Tomorrow:
Bullish Bias: PLTR's bullish momentum could continue as long as it holds above the $40.29 support level. A break above $42.12 would confirm further upside potential.
Disclaimer:
This analysis is based on technical data and is not financial advice. Please conduct your own research and consider risk management when trading.
PLTRSeems like a constant growth.
PLTR will reach above 55—SL below the red hatchline.
It is just a speculation
Stocks are down? "Another 20 trillion to Israel"Palantir is still trending up, it will keep trending up until it doesn't.
Target is 35, if it fails that there's still some trades to be made with this stock.
Palantir Technologies | PLTRPalantir stock is set to pop in the next year as the tech firm erects an artificial intelligence "fortress" that will help it become one of the biggest players in the AI race in the coming decade, Wedbush Securities analysts wrote on Friday.
According to Wedbush's Dan Ives, Palantir is headed to $25 a share in the next 12 months. That represents a surge of 54% from Thursday's closing price of $16.15. Shares were up 5.7% at $17.07 early Friday.
The data software firm, which has been funded in part by the CIA's In-Q-Tel venture capital arm, is the "Messi" of AI, Ives said, referring to Argentine soccer superstar Lionel Messi.
"As we begin the 4th Industrial Revolution, Palantir is engaging in the widespread trend of various industries leveraging recent generative AI innovations to streamline operations and improve expense profiles," the Wedbush analysts wrote. Given Palantir's wide roster of partners in both the public and private spheres, Wedbush sees the next six to 12 months as a period of significant expansion for the company as it serves the growing demand for enterprise-scale large language AI models.
"This is early innings on a sum-of-the-parts AI story just on the cusp on monetizing this massive green field AI opportunity," it predicted.
Palantir CEO Alex Karp has been a vocal proponent of the rapid development of AI even in the face of risks associated with the technology.
In an op-ed for the New York Times this week, he wrote that AI will shape political developments in this century in the same way that nuclear weapons drove geopolitics in the last century. He cautioned that there are risks, but they should not deter the continued advancement of AI. "If these technologies are to exist alongside us over the long term, it will also be essential to rapidly construct systems that allow more seamless collaboration between human operators and their algorithmic counterparts, to ensure that the machine remains subordinate to its creator," he wrote. "We must not, however, shy away from building sharp tools for fear they may be turned against us."
Palantir is one of the most popular stocks, and for many, it's been a wild ride. Since the direct listing, investors have seen shares skyrocket to the high FWB:30S , crash to $5.84, and ride the AI boom back to the high teens. I invested in PLTR at the direct listing and purchased shares on the way up and as they declined in price. I was vocal about my dissatisfaction with how Alex Karp handled what has now become the infamous Q2 2022 conference call and became bullish again as PLTR turned things around. 2023 has been a strong year for PLTR as shares have increased by 182.47% YTD. Some investors have done well, while others got back to even or chipped away at the losses. Since May 5, shares have appreciated by 143.59%, appreciating from $7.41 to $18.05. Q2 2023 earnings are around the corner as PLTR is set to report post-market on August 7. Shares can continue higher into earnings and continue throughout 2023 if PLTR delivers growth across its revenue, earnings, customers, and contracts while maintaining its Q2 free cash flow (FCF) margins. In this article, I will discuss what I am looking for in the Q2 2023 earnings report and provide some insights as to what I think shares of PLTR could be worth in the future.
In 2021, PLTR made 45 official announcements through its website newsroom, and in 2022, PLTR had 44 announcements. PLTR has been busy in 2023; through July 18, they have made 26 official announcements. This doesn't include any of the blog posts PLTR has written discussing the work their conducting. I continuously research these aspects as they provide insight into what will be discussed on the earnings call and in the 10-Q. In Q2 2023, PLTR posted 14 press releases and another four in July. For PLTR to continue its growth trajectory, it needs more adaptation of its products in the government space as well as the private sector.
I expect PLTR to deliver strong growth numbers as there have been significant partnerships announced since April 1. On the government side, Palantir announced two deals with government entities in Ukraine, including the Prosecutor General's Office of Ukraine and the Ministry of Digital Transformation of Ukraine. PLTR announced that Ukraine would utilize its technology to support the defense and reconstruction of the country and empower Ukraine investigators with critical data processing tools regarding 78,000 registered war crimes. US Special Operations Command entered a multi-year contract worth up to $463 million to expand its enterprise capabilities.
On the commercial side, PLTR expanded its cloud partnership with Microsoft (MSFT), entered into an agreement to build an integrated management flow system on top of Foundry for CA Modas S.A, and expanded its partnership with Jacobs Solutions (J). These partnerships are critical because it will allow PLTR to expand throughout several sectors through some of the largest counterparts. I expect the Jacobs and Microsoft partnerships to be extremely beneficial in the coming years as more companies look to create value by enabling AI and moving toward data-driven decisions.
PLTR guided for revenue to come in at $528-$532 million in Q2 and revenue of $2.185-$2.235 billion for the full year. In Q1, PLTR delivered $525.2 million in revenue which is 24.04% of the low-end estimates and 23.5% of the high-end estimates for 2023. For PLTR to meet its 2023 full-year revenue guidance, it would need to generate an average of $553.27 million in Q2–Q4 to meet the low-end projection and an average of $569.94 to meet the high-end estimates.
I expect PLTR to deliver at least $550 million in revenue for Q2 and discuss how they will increase incremental revenue throughout the year as more contracts continue to be initiated on an ongoing basis. If we see anywhere from $550-$575 million in revenue for Q2, it would be a strong indication that the high-end estimates will be met or exceeded when they report their 2023 fiscal year numbers. If PLTR records $550 million in Q2, $575 million in Q3, and $601 million in Q4, PLTR will generate $2.25 billion in annual revenue for 2023. This would be an average QoQ revenue increase of 4.6% over the next three quarters. I think it will be a strong signal coming off the AIP conference if PLTR is on track to beat the high-end estimates, as that would mean PLTR will be moving into the $600 million quarterly revenue bracket sometime in 2023 and inching their way closer to generating over $1 billion in revenue on a quarterly basis.
PLTR has now strung together two consecutive quarters of GAAP profitability and is projecting its adjusted income from operations coming in at $118-$122 million in 2023 and between $506-$556 million for their fiscal year. In Q1 2023, PLTR generated $125.11 million in adjusted income from operations, which is 24.73% of the low-end projection and 22.50% of the high-end estimate. This would mean that PLTR would need to increase its adjusted income throughout the year to meet its annualized projections.
I dislike adjusted numbers and prefer free cash flow (FCF) as it's harder to distort than other profitability measures. In Q1, PLTR generated $188.9 million in adjusted FCF, which is a 36% margin. PLTR's true FCF number was $182.6 million, as they generated $187.4 million in cash from operations and allocated $4.8 million toward CapEx. This places PLTR's FCF margin at 34.77%, which is the largest margin they have operated at since becoming a publicly traded company.
I have previously indicated that I believe PLTR can replicate similar growth to Salesforce (CRM). CRM currently has a market cap of $223.51 billion and, in the TTM, has generated $32.19 billion of revenue and $7.06 billion in FCF. Mr. Market is valuing CRM at a 6.94x multiple on sales, and 31.64x FCF. CRM has seen explosive growth over the last decade as its grown its revenue by 690.67% and its FCF by 1,125.54%. Including the TTM, CRM has operated at a 20.57% FCF margin over the previous five years.If PLTR finishes on the high-end of their revenue estimates for 2023 they would deliver $2.25 billion in revenue. PLTR's previous projections placed their 2025 revenue at $4 billion or more and I don't recall seeing updated estimates. If PLTR comes in on the high end of the 2023 projections and generates $2.25 billion, its YoY revenue growth would have decelerated from 41.11% in 2021 to 23.61% in 2022 and 18.12% in 2023. Hypothetically, if PLTR can grow its revenue at a 15% YoY basis over the next decade from 2024–2033, it would generate $2.98 billion in revenue for 2025 and $9.12 billion in 2033. At a 33% FCF margin in 2033, PLTR would generate $3 billion in FCF. At a 32x multiple on FCF, PLTR would be valued at $96.17 billion.
If PLTR can maintain an 18% YoY revenue growth rate and maintain a 33% FCF margin, PLTR will generate $11.78 billion in revenue and $3.89 billion in FCF in 2033. At a 32x FCF multiple, PLTR would be valued at $124.42 billion. If PLTR was to grow at a quicker pace of 21% YoY on average, they would generate $15.15 billion in revenue and $5 billion in FCF in 2033. Assigning a 32x multiple on their FCF would place PLTR at a $159.93 billion valuation.
Based on these assumptions, PLTR could grow between 151.49%-318.23% over the next decade, which would be an annualized return of 15.15%-31.82%. These are just assumptions regarding what could occur and why I feel PLTR could be a good long-term investment.
For those who think a 32x multiple on FCF is a crazy valuation, I am going to place a table below. Based on the current market caps, big tech has multiples from 31.29x to 221.31x. Putting the outliers aside, it's not uncommon to see companies trade in the 40x range. Even companies such as the Coca-Cola Company (KO) trade at a 29.90x multiple and PepsiCo (PEP) trade at a 45.41x multiple on FCF.
PLTR Back to ATHsBounced off the .382 fib retracement with only ATH remaining. Lots of bullish momentum and TA has been smooth as well. Possible S&P 500 inclusion in September could also be driving price action from "smart money."
Flow into calls has been increasing with a few big orders above ATH have been spotted
Wednesday EveningMid week is over and the first half of the week has not been convincing for Palantir. I don't expect a change of the mood for the remaining 2 trading days so that I assume that the weekly picture will rather remain gloomy.
At moment the weekly candle looks like an emerging star. Thus next week may become corrective.
I expect the momentum to decline tomorrow or on Friday.
PLTR: TA for tomorrow (10/07/2024)Price Action
Current Price: Around $39.92
Recent High: $40.29 – This is acting as immediate resistance. A breakout above this level could signal more upside potential.
Volume: Volume has picked up as PLTR moved upward, suggesting strength in the recent uptrend.
Support and Resistance Levels
Immediate Resistance:
$40.29 – A key level. If price holds and breaks above this, watch for continuation toward the next psychological resistance around $41.00.
Immediate Support:
$39.24 – This is a minor support level, close to the current price. If the price pulls back, this level could hold.
Stronger Support:
$37.63 – This is a significant support zone. If the price drops below $39.24, this level could see a bounce, given the recent consolidation and volume in this area.
Major Support:
$36.05 – This is a critical level. If price breaks below $37.63, watch for this zone for a strong reversal.
Entry and Exit Points
For Long (Buy) Position:
Entry: If price breaks above $40.29 with strong volume, a potential entry can be taken for a quick scalp or short-term trade.
Target: Next resistance level around $41.00-$41.50.
Stop-Loss: A stop-loss can be placed just below $39.24 in case of a breakdown.
For Short (Sell) Position:
Entry: If price struggles to break $40.29 and reverses, a short position could be entered around $39.90-$40.00.
Target: Price could drop to $39.24, and further to $37.63 if the support breaks.
Stop-Loss: Set a stop-loss above $40.50.
Direction
The stock is currently in a strong uptrend, with higher highs and higher lows. However, it's approaching a resistance zone. If it can break above $40.29, we could see continued momentum. Otherwise, a pullback towards $39.24 or $37.63 is likely if resistance holds.
If you're looking for a trend continuation, keep an eye on volume tomorrow at the open. A strong push with high volume above resistance would support a bullish bias.
Palantir Bullish Long-Term PlayPalantir shares rose to a yearly high near $33 in the evening trading session on Friday, September 6, after announcement Palantir joins the S&P 500 index.
Palantir was one of the strongest contenders for inclusion in the broad market S&P500 index.
This inclusion, as well as Dell (DELL), comes after tech companies Super Micro (SMCI) and Crowdstrike (CRWD) also joined the index earlier this year.
Technical 1-month graph indicates on Reversed Head-and-Shoulders structure in development.
Potentially it can bring Palantir stocks, up to $100 per share over the next several years.
PLTR - likely halfway through the current moveNYSE:PLTR has had an amazing run. It seems to love filling proportional measured ranges. We're likely halfway through this move before another consolidation period.
PLTR: super duper bullish breakoutPLTR is on a tear officially breaking out of rising wedge (with a retest!)
Get ready for new all time highs palantarians.
Comment below with your cost average and why you think we can go past 45?
