Palantir: Another Downward Move is PossiblePalantir: Another Downward Move is Possible
We have identified another bearish Harmonic Pattern on our radar.
Upon completion near $33.12, we observed an aggressive price reaction, reinforcing the validity of our pattern. This indicates that sellers were well-positioned around $33, suggesting a correction is imminent.
In a typical scenario, Palantir could decline to around $28. However, in a more aggressive bearish scenario, it could drop as low as $22.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
PTX trade ideas
PLTR daily pullbackPullback to the 0.75 line in a big possible channel. Take it to the 0.875 line and an old zone.
PLTR: AnalysisOn PLTR we are in a bearish trend (Bearish channel) namely an oversold zone with a succession of red candles accompanied by red volumes. Considering this configuration on the chart, we would have a high probability of having a bullish trend however if the vwap indicator as well as the resistance line are broken forcefully by a large green candle and followed by a large green volume .
$PLTR - Bullish Cup and Handle Pattern on the Weekly ChartNYSE:PLTR Hello everyone! I've been analyzing the weekly chart and noticed a bullish cup and handle pattern that I think is worth sharing with you. This pattern suggests a potential price target of $130 for next year if it follows through as expected. I find this pattern quite interesting and will keep a close eye on it for potential trading opportunities.
Palantir: A Star Poised to AscendIn the world of cutting-edge technology, Palantir stands out as a beacon of innovation and transformative power. Its revolutionary software platform, Foundry, has revolutionized the way organizations harness the power of data to drive meaningful insights, enhance decision-making, and optimize operations. As the demand for data-driven solutions continues to surge, Palantir is poised to become an indispensable force shaping the future of business and society.
Palantir's exceptional growth trajectory and expanding client base speak volumes about its transformative potential. The company's expanding reach across industries, from government and defense to healthcare and finance, underscores its ability to address a wide range of critical challenges. Palantir's commitment to innovation and its ability to adapt to evolving market needs further solidify its position as a leader in the data intelligence space.
As Palantir continues to scale, its stock is set to soar, reflecting the immense value it delivers to its clients and the profound impact it has on the world. Investors who recognize the company's transformative potential are well-positioned to reap significant rewards from Palantir's meteoric ascent.
PLTR (Palantir Technologies Inc.) for tomorrow August 23, 20241. Trend Analysis:
Short-term Trend: The price is currently within a rising channel but is testing the lower trendline. This suggests a potential retest of the lower support or a possible breakdown if the price fails to hold.
Volume Profile: The Volume Profile (VPVR) indicates a significant amount of trading activity around the $31.64 level, which could act as a strong support. A breakdown below this level could lead to a sharp move downward.
2. Key Support and Resistance Levels:
Resistance Levels:
$33.13: Marked as the recent high, this is a significant resistance. If the price manages to break above this level, it could indicate further upside potential.
$32.56: Another minor resistance level just above the current price, this might act as a short-term barrier.
Support Levels:
$31.97: Currently acting as immediate support. A breakdown below this level might lead to a test of lower levels.
$31.64: This is a more substantial support level, where the price might find strong buying interest.
$31.00: If the price breaks below $31.64, this level could act as the next major support.
3. Indicators:
MACD: The MACD is currently showing a potential bullish crossover. This indicates that momentum might be shifting to the upside, suggesting a possible reversal or continuation of the upward move.
Volume: There has been an increase in volume, especially during the recent down move. This could either indicate selling pressure or a potential bottom if buyers start stepping in.
4. Price Action & Strategy:
Entry Point:
Bullish Scenario: Enter long if the price breaks above $32.05 with strong volume, targeting the resistance at $33.13. A breakout above $33.13 could lead to further upside potential.
Bearish Scenario: Consider shorting if the price breaks below $31.64 with strong volume, targeting the $31.00 level as the next support.
Exit Point:
For Longs: Consider taking profit near $33.13 or trail your stop-loss if the momentum remains strong. A stop-loss could be placed just below $31.97.
For Shorts: Consider taking profit near $31.00 with a stop-loss just above $32.05 if the bearish scenario plays out.
5. Forecasted Direction:
Given the current setup, the forecasted direction is slightly bullish if the price holds above $31.97 and shows strength above $32.05. However, a breakdown below $31.64 could shift the direction to bearish, leading to a further downside.
Key Takeaways:
Watch for a breakout above $32.05 for a potential long position.
Watch for a breakdown below $31.64 for a potential short position.
Use MACD and volume as confirmation tools for the move.
Technical Analysis (TA) for Palantir Technologies Inc. (PLTR):Based on the screenshot you provided, here’s a detailed analysis of PLTR for tomorrow and the rest of the week:
Current Market Overview:
Trend Line:
PLTR has been following an upward trend, but recently it has broken below this trend line, which could be an early sign of a potential trend reversal or a pullback.
Ichimoku Cloud:
PLTR is trading within the Ichimoku Cloud, which suggests a state of indecision in the market. The price is nearing the lower boundary of the cloud, which might act as support, but the overall trend could be weakening.
Key Support and Resistance Levels:
Resistance Levels:
$33.00 (Immediate resistance, coincides with recent highs)
$32.98 (Current resistance level, closely aligning with the previous)
Support Levels:
$32.00 (Current price level and potential support, psychological level)
$31.69 (A more substantial support level)
$30.63 (Next significant support, if the $31.69 level breaks)
Volume:
The recent candle shows a bearish sentiment with increased volume, indicating selling pressure. The bearish movement suggests potential further downside if key supports fail.
Forecast and Trading Strategy:
Bearish Scenario:
Short Entry: If PLTR fails to hold the $32.00 support level and breaks below it with strong bearish momentum, a short position might be favorable.
Targets:
First target at $31.69.
Second target at $30.63 if the selling pressure continues.
Stop-Loss: Consider placing a stop-loss slightly above $33.00 to manage risk in case of a reversal.
Bullish Scenario:
Long Entry: If PLTR finds support around $32.00 and shows signs of a bullish reversal, consider entering a long position.
Targets:
First target at $33.00.
Second target at $34.25, where a previous high was noted.
Stop-Loss: Set a stop-loss just below $31.69 to protect against a breakdown.
Neutral Scenario:
If PLTR remains within the Ichimoku Cloud without a decisive move, it may be better to wait for a clear breakout above $33.00 or breakdown below $31.69 before taking a position.
Market Sentiment and Final Thoughts:
Keep an eye on broader market conditions and any news that might affect PLTR. The stock appears to be in a critical juncture, and the next few days will be crucial in determining its direction.
Given the current setup, the next significant move could be triggered by either a breakout above $33.00 or a breakdown below $31.69. Adjust your trading plan based on intraday price action and volume analysis.
Let me know if you need any further insights or additional details!
#Palantir Technologies Inc $PLTR to 40$
Palantir's revenue growth has accelerated since the company launched its Artificial Intelligence Platform (AIP) last year. Revenue from private sector U.S. customers grew 55% year over year in the second quarter, but the remaining value on those deals (booked but not yet recognized) more than doubled. The company's U.S. customer count rose to 295, an 83% increase from a year ago and a 13% increase from the prior quarter. This data points to building growth momentum as companies flock to Palantir for help tapping into AI technology.
Overview: Palantir Technologies Inc. develops and implements a wide range of software platforms that analyse data and provide real-time outputs for optimizing operations inside hospitals to intelligence and counterterrorism operations globally, with a market cap of $71.84 billion. This highly diverse technology creates broad appeal and shows up in Palantir's business results.
Results: Palantir's revenue growth has accelerated since the company launched its Artificial Intelligence Platform (AIP) last year. Revenue from private sector U.S. customers grew 55% YOY in the second quarter, but the remaining value on those deals (booked but not yet recognized) more than doubled. The company's U.S. customer count rose to 295, an 83% increase from a year ago and a 13% increase from the prior quarter. This data points to building growth momentum as companies flock to Palantir for help tapping into AI technology.
Operations: The company generates revenue primarily from two segments: Commercial ($1.14 billion) and Government ($1.34 billion). Its software platforms mainly support intelligence and counterterrorism efforts in various countries, including the United States and the United Kingdom.
Palantir's earnings are projected to grow 22.8% annually, outpacing the US market's 15.1%. With a forecasted revenue growth of 16.9% per year, Palantir demonstrates robust expansion potential despite not hitting the 20% mark. The company has become profitable this year and expects significant earnings growth over the next three years. Palantir's recent partnerships with Surf Air Mobility and Microsoft highlight its strategic positioning in AI-powered solutions for advanced air mobility and national security, respectively, reinforcing its innovative edge in tech and AI sectors.
PLTR 8/19Technical Analysis Insights:
Support and Resistance Levels:
Support: Strong support is observed around the $29.68 level, with another at $29.17, providing potential entry points if the stock pulls back.
Resistance: The stock faces resistance near $33.31, which could be a critical level to watch if the bullish momentum continues.
Moving Averages:
PLTR is trading above both its 20-day and 50-day moving averages, which is a bullish signal. The alignment of these averages suggests that buyers currently dominate the market.
Trend Lines:
The stock appears to be following an upward trend with higher highs and higher lows. A potential breakout could occur if it crosses the current resistance levels.
RSI (Relative Strength Index):
The RSI is currently around 65, indicating that while the stock is not yet overbought, it is approaching the higher end of the spectrum. Be cautious if the RSI moves into the mid-70s, as this could indicate a possible pullback (TradingView).
Market Considerations:
Recent Catalysts:
Palantir's recent partnership with Microsoft and other AI-driven initiatives have fueled its upward momentum. This positive sentiment might continue to drive the stock higher in the short term.
Volatility and Market Conditions:
Given the overall positive market sentiment towards AI and Palantir's role in the sector, the stock could see increased volatility. Keep an eye on broader market conditions, especially in tech, as they could influence PLTR's performance.
Trading Strategy for Tomorrow:
Bullish Scenario: If the stock continues to hold above $32.02, consider entering a long position targeting the $33.31 resistance level. If this level is breached with strong volume, the next target could be near $34.
Bearish Scenario: If PLTR drops below $29.68, it may test the $29.17 support level. A break below this could signal further downside, potentially to the $28 level or lower.
Final Notes:
Stay alert for any pre-market activity or news that could impact PLTR's price movement. Adjust your strategy accordingly, especially if new catalysts or market shifts occur overnight.
PLTR has protentional but what does it lack <to monitor>Palantir Technologies, Inc:
The company has demonstrated a consistent increase in total revenue over the past few quarters, rising from $608.35 million in Q4 2023 to $634.34 million in Q1 2024, and further to $678.13 million in Q2 2024. This performance indicates strong market demand for Palantir's products and services, suggesting successful expansion of its customer base or increased sales to existing clients.
Additionally, there is a positive trend in Palantir's profitability, with net income growing from $65.79 million in Q4 2023 to $80.88 million in Q1 2024, and then to $105.34 million in Q2 2024. This consistent growth in net income demonstrates the company's effective revenue increase and cost management, resulting in improved bottom-line results.
Palantir's balance sheet displays strength, with total assets growing from $4,522.43 million in Q4 2023 to $5,191.88 million in Q2 2024. This increase in assets, coupled with a relatively stable level of liabilities, has led to growth in total equity, which reached $4,137.81 million in Q2 2024. A robust equity position provides financial stability and flexibility for future growth initiatives.
Furthermore, the company's positive cash flow from operating activities is a notable strength, showing consistent positive figures across the reported quarters. In Q2 2024, operating cash flow was $144.19 million, indicating that Palantir is generating cash from its core business operations.
However, Palantir faces challenges, particularly in the significant cash outflow from investing activities. In Q4 2023, the company reported -$569.23 million in cash flow from investing activities, followed by -$511.25 million in Q1 2024. While this decreased to -$148.88 million in Q2 2024, it still represents a substantial use of cash, indicating potential heavy investments in growth initiatives or acquisitions that might pressure short-term financial performance.
Another area of consideration is the company's high operating expenses relative to revenue. Despite growing revenue and gross profit, operating expenses remain substantial. In Q2 2024, total operating expenses were $444.23 million against revenue of $678.13 million. This high cost structure could limit profitability if revenue growth were to slow down.
Lastly, while Palantir's free cash flow is positive, it has shown volatility across the reported quarters, ranging from -$4.86 million in Q4 2023 to $296.31 million in the trailing twelve months. This variability in free cash flow could potentially impact the company's ability to fund growth initiatives or consistently return capital to shareholders.
In summary, Palantir shows strengths in revenue growth, improving profitability, and a solid balance sheet. However, it faces challenges in managing high cash outflows from investing activities, controlling operating expenses, and stabilizing free cash flow. The company's future performance will likely depend on its ability to maintain revenue growth while optimizing its cost structure and investment strategy.
PLTR: The gap is finally closed! Weekly chart analysis.This weekly chart of PLTR shows that the stock has been moving within an ascending channel for an extended period. The recent price action indicates that the stock has approached a potential resistance area near $31.34, a level that also marks the closure of a gap after 3.5 years, which could act as a significant resistance point.
As the price nears the upper boundary of the channel, it is critical to monitor how it reacts to this resistance area. A successful breakout above this level could signify the continuation of the uptrend, potentially leading to further gains. In this scenario, the ATH would be our next target. However, if the resistance holds, the price might retrace towards the 21 ema again, or even to the lower boundary of the ascending channel, testing the support levels within the channel, in a more pessimistic scenario.
The overall structure remains bullish as long as the price remains within the channel, but we should be cautious around the resistance level, especially given the historical significance of the gap closure.
If the price breaks above the $31.34 resistance decisively, it could attract more buyers, but a rejection at this level might prompt profit-taking or a short-term pullback within the channel's confines.
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.
PLTR 1-hour chart market data and sentiment reseach for this weeTechnical Analysis Chart Overview
Trend:
PLTR is currently in an ascending channel, indicating a short-term bullish trend.
The price action is near the upper boundary of the channel, suggesting potential resistance at this level.
Support and Resistance Levels:
Support: Around $29.15 and $26.05 (marked by red lines).
Resistance: Near $31.19 and $30.37 (marked by turquoise lines).
Volume Profile:
The Volume Profile indicates a high trading volume concentration around the $30 area.
Below this level, there is a significant volume gap, suggesting less resistance until the next major support.
Momentum Indicators:
MACD: Slightly above the signal line, but with declining momentum, indicating a weakening bullish momentum.
RSI: Not visible, but should be checked for overbought or oversold conditions.
Trend Lines:
The price is currently respecting an upward trendline within the channel, which could act as dynamic support.
Market Data and Sentiment
Recent News and Catalysts:
Recent partnerships and government contracts have been driving PLTR's recent gains.
Investors are optimistic about PLTR's expansion into new sectors, including healthcare and defense.
Analyst Sentiment:
Mixed opinions, with some analysts upgrading PLTR on the back of strong earnings and contract wins.
Others are cautious due to the stock’s rapid price appreciation, which may not be fully supported by underlying fundamentals.
Market Sentiment:
Social media sentiment shows a positive bias, with retail investors anticipating further upside.
Institutional investors remain divided, with some scaling into positions and others taking profits.
Psychological Levels
$30: This is a crucial psychological level; a break above this could attract more buying.
$35: This level is viewed as a potential upside target, where significant resistance could be encountered.
Suggestions for Tomorrow and This Week
Short-Term (Tomorrow)
Bullish Scenario:
If PLTR breaks above $31.19 with strong volume, it could signal a continuation of the upward trend.
Potential targets: $32 followed by $33.
Bearish Scenario:
A failure to hold above $30 might lead to a pullback towards the lower end of the channel.
Potential targets: $29.15, then $28.
Medium-Term (This Week)
Bullish Continuation:
Sustaining above the $31 level could see PLTR challenge the $33-$35 range.
A break above this could lead to a test of the $37-$38 zone, where the next significant resistance lies.
Bearish Correction:
A sustained drop below $29 could indicate a correction, with support levels at $26.05 and then $24.
Trading Strategies
Scalping:
Look for quick trades around the $30 psychological level, buying dips and selling into strength.
Swing Trading:
Consider buying on pullbacks to the $29-$29.50 zone with a stop-loss below $28.50.
Target a retest of $32-$33.
Options Trading:
Call Options: For a bullish outlook, consider purchasing call options with a strike price near $31.
Put Options: If anticipating a decline, consider buying puts with a strike price around $28.
Conclusion
PLTR shows potential for further upside, driven by strong market sentiment and recent positive catalysts. However, the current price action near the upper boundary of the ascending channel suggests caution. Monitoring key levels, momentum indicators, and market news will be crucial in determining the stock’s direction in the near term.
The information and analysis provided in this report are for educational purposes only and do not constitute financial advice, investment advice, trading advice, or any other sort of advice. This analysis represents just my opinions and should not be relied upon for making any investment decisions.
8/13/24 - $pltr - short at $30.5... 25x sales no gracias8/13/24 :: VROCKSTAR :: NYSE:PLTR
short at $30.5... 25x sales no gracias
- great company. stonk too stonky. fam i'll keep reiterating this - there's a differnce between company and stonk.
- 25x sales. it's not growing 100% yoy. it's growing in the 20s CAGR. that's fantastic. but i can find a bunch of other stuff growing in the same range (that are also great co's! i've written about a few! including NASDAQ:CELH , NYSE:TSM , even NASDAQ:NVDA for goodness sake) that are trading far cheaper with equally formidable moats
- i'm currently adding 25 bps shorts for mid september expiries on my book as hedges. so while i'd like to say "this is a fundamental short" - it's objectively not. the stock just had too much of a move to the upside relative to what i believe is coming.
- will they benefit from a ""war"" headline? certainly. will they provide some super valuable services? yes, probably. do i think the mgmt is good? they're fine. would i spend time with them at an airport? not a chance in hell. but hey. that's just one man's opinion.
you do you. just know you're buying 25x sales. good luck. FAFO :)
V
PLTR: SqueezeOn PLTR as we can see on the chart we have a squeeze, that is to say a candle with a long wick and a small body and, in addition to that, this squeeze was formed after a nice upward trend and accompanied by 'a large green volume. Therefore, we would have a high probability of having a bearish trend with the breakout of the vwap indicator as well.
PLTR BullishWeekly chart shows uptrend for the long term investor.
Next stop is $32-38 where we should expect some resistance or a pause/consolidation there.
Short the suckerBearish divergences on the weekly, rising wedge pattern with declining volume during this move up.
Stop loss set above the weekly in case it rips.
Not financial advice
Top reachedPrice reached 30$ resistance located at the top of green channel up
I expect a correction coming very soon
Palantir Technologies Inc. (PLTR) for next week 8/12Palantir Technologies Inc. (PLTR), here’s a technical analysis for the upcoming week and some suggestions for potential entry and exit points:
1. Current Price Action:
Trendline: There is an upward trendline, indicating the stock has been in a bullish trend. However, it looks like the price might be testing this trendline.
Volume Profile: The Point of Control (POC) is visible in the volume profile, indicating the highest volume traded around $26. The current price is above this level, suggesting strength.
MACD: The MACD appears to be flattening out, with the MACD line crossing below the signal line, indicating a potential bearish momentum shift.
2. Key Levels to Watch:
Resistance Levels:
Immediate Resistance: Around $29.98, which is slightly above the current price. This level has been tested, and if the price fails to break through, it could indicate a reversal.
Psychological Resistance: $30.00 is a psychological level, and a close above this could push the price higher.
Support Levels:
Immediate Support: Around $28.50 - $29.00, which aligns with the current consolidation zone and the trendline.
Lower Support: $26.00, near the POC on the volume profile. If the price falls to this level, it could provide a solid support base for a bounce.
3. Price Targets:
Bullish Scenario: If the price breaks above $30.00 with strong volume, the next potential target could be $32.00, which is a significant resistance level.
Bearish Scenario: If the price breaks below the trendline and falls below $28.00, it could target the $26.00 level, where the POC is.
4. Entry/Exit Strategy:
Entry:
Breakout Entry: Consider entering a long position if the price breaks and closes above $30.00 with strong volume. Set a stop-loss just below $29.00 to protect against a false breakout.
Dip Buy: If the price pulls back to the $26.00 - $28.00 range and shows signs of support (like a bullish candlestick pattern or increasing volume), it could be a good opportunity to enter a long position. Set a stop-loss below $25.50.
Exit:
Partial Profit-Taking: Consider taking partial profits around $30.00 - $31.00 if entering on a breakout, as this is a resistance zone.
Full Exit: Consider exiting the position fully if the price reaches $32.00 or if the price falls below $25.50, indicating a potential further decline.
5. Additional Considerations:
Watch the MACD closely for any further bearish signals, as a continued downtrend in MACD could indicate that the bullish momentum is weakening.
Monitor the overall market conditions and any news related to Palantir Technologies that could impact the stock’s movement.
This analysis is based on the current chart and may need to be adjusted as new data comes in throughout the week. Always consider using risk management strategies like stop-loss orders to protect your capital.
PLTR: Broadening Wedge for an epic ending diagonalOwning PLTR would be a roller coaster ride for the last one year. This move is looking more like a broadening wedge formation. Even though it is not a very common ending diagonal pattern, it still can play out like one. RSI has been steadily making a lower high as price is making higher high. Each impulse is met with crushing correction and invalidated patterns. Long and short equally reckt. All signs point to an ending of an expanded wave 5. Price can hit all time high by end of this year or get close. My target would be at least $40, which would be 1:1 with minute degree wave 3. We should expect a pull back in the next couple of weeks and then a steady move up. I don't have a position but I will be watching this last move carefully to target a short for intermediate degree wave 2 short and followed by a generational entry point for intermediate wave 3. Hopefully, sometimes early next year, opportunity will arise to buy and hold pltr until I retire....
How far PLTR will go(?)Technical Analysis (TA) Overview:
Trend & Price Action:
Current Price: $29.69, approaching a high around $29.70.
Ichimoku Cloud: The price is well above the Ichimoku Cloud, indicating a strong bullish trend. The green cloud (Senkou Span A above Senkou Span B) suggests continued bullish momentum.
Pivot Points:
Resistance Levels:
R1: $25.16 (already breached).
R2: $25.57 (already breached).
R3: $26.28 (already breached).
Support Levels: If a pullback occurs, these can serve as key levels:
S1: $24.04
S2: $23.33
Stochastic Oscillator: The oscillator appears to be nearing the overbought zone. This may indicate a potential for a short-term pullback, though the strong momentum could override this signal.
Volume:
Volume Analysis: The volume is low at 6.31K in the latest hour, which might indicate a cooling off in momentum. However, lower volume could also mean consolidation before a further move up.
Fundamental Analysis & Catalysts:
AI Hype & Sentiment:
Market Sentiment: AI stocks have been driving significant market enthusiasm. PLTR, being a major player in the AI sector, benefits from this sentiment. The recent surge could be part of a broader AI-driven rally.
Investor Psychology: Investors are likely driven by FOMO (Fear of Missing Out), as the stock has shown significant upside. The psychological $30 level is critical. A break above could lead to further buying pressure.
News & Catalysts:
Earnings & Guidance: Recent positive earnings or bullish guidance could be the reason for the rally. Investors are likely reacting to strong forward-looking statements from the company.
Partnerships & Contracts: Any news related to new AI contracts or partnerships with government or private entities can fuel further upside.
Broader Market Trends: If the overall tech or AI sector is rallying, PLTR could continue to benefit from sector-wide momentum.
Potential Directions:
Bullish Scenario:
If PLTR breaks the psychological $30 level with strong volume, it could extend the rally, potentially testing new highs.
Strong AI-related news, continued bullish sentiment in the broader market, or a positive analyst upgrade could act as catalysts for further upside.
Bearish/Neutral Scenario:
If the stock faces resistance at $30 and the Stochastic Oscillator indicates an overbought condition, a short-term pullback to the $27.50-$28.00 range could occur.
A break below the $27.50 level could indicate a deeper correction, possibly testing the support levels around $26.
Conclusion:
PLTR is in a strong bullish trend, with the potential to extend its rally if it breaks above the $30 level. However, caution is advised due to the overbought condition indicated by the Stochastic Oscillator. Monitoring volume and key resistance/support levels will be crucial to assess the next move.
These Two Charts Show Where Palantir Might Go From HerePalantir Technologies NYSE:PLTR rose this week after the security-software firm beat the Street on Q2 earnings and revenue generation and raised expectations for Q3 sales and profitability. What does technical analysis tell us about where it might go from here?
First, some background. PLTR gained some 11% Tuesday and another 11% Thursday afternoon (after a 1% pullback Wednesday) following the company’s report Monday after the bell of $0.09 in adjusted Q2 earnings per share on $687.1 million of revenues. That beat the $0.08 EPS and $652.8 million in sales that analysts’ consensus estimate had expected.
The company also increased its full-year revenue guidance to $2.74 billion-$2.75 billion, up from a previous $2.68 billion-$2.69 billion guide and the $2.7 billion analysts had previously forecast.
Palantir’s brand has already been widely accepted by government users, while the commercial sector is seeing the company’s products more and more as a necessity. (Full disclosure: I was long PLTR at the time of this writing.)
The company’s operating and free cash flows appear strong, as does its current ratio. PLTR also has no debt whatsoever on the books. No short-term debt. No long-term debt.
Here’s a look at its chart as of Thursday afternoon, Aug. 8:
The stock has been trading in an ascending price channel going back to early May 2023, as seen by the blue- and pink-shaded areas above. It's been steady and in the grand scheme of things, not very volatile.
Now, let's zoom in and look at the stock’s year-to-date chart:
Readers will note that from early March on, PLTR developed a cup-with-handle pattern, as denoted by the purple lines above. This pattern has a $30 pivot point, marked with the horizontal purple line above.
Prior to Tuesday and Wednesday’s rally, the stock had tested its 200-Day Simple Moving Average (the red line above) on Monday, completing the cup's handle. Palantir has also taken back its 50-Day Simple Moving Average, as denoted by the blue line above.
Meanwhile, the stock’s Relative Strength Index (RSI) has returned to a better-than-neutral posture, as marked with the gray line at the above chart’s top.
And at the chart’s bottom, what was a bearish-looking daily Moving Average Convergence/Divergence (MACD) is attempting to curl the 12-Day Exponential Moving Average (or “EMA,” marked with the black line above) back towards the 26-day EMA (the orange line). That’s historically a bullish sign.
Meanwhile, the histogram of Palantir’s 9-Day Simple Moving Average (SMA) is moving towards the zero bound, as denoted by the blue bars above. That’s also historically a bullish indicator.
This presentation discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. The examples provided are for illustrative purposes only and are not intended to be reflective of the results you can expect to achieve. Specific security charts used are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. This presentation discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. The examples provided are for illustrative purposes only and are not intended to be reflective of the results you can expect to achieve. Specific security charts used are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeline for any particular purpose of the above content. Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. In the U.S., investment products and services on Moomoo are offered by Moomoo Financial Inc., Member FINRA/SIPC.
TradingView is an independent third party not affiliated with Moomoo Financial Inc., Moomoo Technologies Inc., or its affiliates. Moomoo Financial Inc. and its affiliates do not endorse, represent or warrant the completeness and accuracy of the data and information available on the TradingView platform and are not responsible for any services provided by the third-party platform.
How to trade PLTR I have many people asking how to trade a stock more successfully. I would like to share with you what I do daily before trading:
I treat trading as a business, not gambling.
As in any business, I always plan my business strategy.
My plan and actions are based on the playbook I create for each stock trade.
Creating a playbook for trading PLTR (Palantir Technologies) stock involves several key steps to ensure you have a comprehensive plan. Here’s a step-by-step guide:
1. Pre-Market Analysis
Check News and Catalysts: Look for any news related to PLTR that could affect its price, such as earnings reports, product launches, or market news.
Review Overnight Developments: See how PLTR traded after hours and in pre-market trading. Look for any unusual volume or price movements.
2. Technical Analysis
Identify Key Support and Resistance Levels: Use historical price data to identify important support and resistance levels. On Thinkorswim (TOS), you can use the drawing tools to mark these levels on the chart.
Analyze Chart Patterns: Look for any chart patterns such as flags, pennants, head and shoulders, etc., which might indicate future price movements.
Check Indicators: Use indicators like Moving Averages (MA), Relative Strength Index (RSI), and MACD to get a sense of the stock's momentum and potential reversal points.
3. Define Your Trading Strategy
Scalping or Day Trading: Determine whether you will scalp or day trade PLTR. Scalping involves quick, small trades, while day trading involves holding positions for a longer period during the day.
Entry and Exit Points: Define your entry points based on your analysis. Decide on your exit points to take profits or cut losses.
Set Risk Management Rules: Define your stop-loss and take-profit levels to manage your risk.
4. Develop Your Watchlist and Alerts
Create a Watchlist: Add PLTR to your watchlist on TOS.
Set Alerts: Set alerts for key price levels, volume spikes, or other criteria that match your trading strategy.
5. Plan Your Trades
Pre-Market Orders: If you trade in pre-market hours, plan your orders based on your analysis.
Intraday Execution: During market hours, follow your plan and execute trades based on your predefined strategy.
6. Post-Market Review
Review Trades: After trading, review your trades to see what worked and what didn’t.
Adjust Your Strategy: Make any necessary adjustments to your strategy based on your review.
Example Playbook for PLTR
Pre-Market Analysis
News Check: No significant news reported.
Overnight Trading: PLTR traded in a range of $16.50 to $17.00 with higher volume in the last hour.
Technical Analysis
Support Levels: $16.00, $15.50
Resistance Levels: $17.50, $18.00
Chart Patterns: Potential ascending triangle forming on the 1-hour chart.
Indicators:
MA: 50-day MA at $16.75, 200-day MA at $15.80
RSI: Currently at 65, indicating slight overbought conditions.
Trading Strategy
Entry Point: Look for a break above $17.00 with high volume for a long position.
Exit Point: Target price of $17.50 with a stop-loss at $16.70.
Risk Management: Risk no more than 1% of your trading capital on this trade.
Watchlist and Alerts
Add PLTR to Watchlist.
Set Alerts:
Price crossing $17.00.
Volume spike above average.
Trade Execution
Pre-Market Order: None planned.
Intraday Orders: Place order to buy if price breaks above $17.00 with volume confirmation.
Post-Market Review
Trade Review: Check if the trade was executed as planned.
Strategy Adjustment: Make notes of any deviations and adjust strategy for future trades.
This playbook provides a structured approach to trading PLTR, helping you make informed decisions and manage risk effectively. and this is not financial advice. Just for educational only.
