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.
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PLTR trade ideas
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.
Rising WedgeI see a Rising Wedge pattern taking shape.
This is a bearish pattern and when the lower trend line is broken the chart breaks to the downside.
The Flash crash that started in Japan was quickly bought up. There is a lot of buyers at the volume profile. I don't believe the lower trend line has been broken, and the pattern should continue.
Come to make money :) PLTR 7/22Just 1 stock, 1 profit.
Chart Analysis
Timeframe: 1-hour chart
Indicators:
MACD (Moving Average Convergence Divergence)
Volume
Support and Resistance Levels
Immediate Resistance: $29.83 (highlighted in green)
Immediate Support: $27.43 (highlighted in red)
Current Price: $28.97 (as per the latest bid)
Trendlines
Descending Trendline: There is a descending trendline from a previous high, indicating a downward trend.
Horizontal Support and Resistance Lines: Clearly marked at $29.83 (resistance) and $27.43 (support).
MACD
The MACD is showing a bullish crossover, indicating potential upward momentum.
Volume
There is a noticeable volume spike, which often precedes significant price movements.
Trading Strategy
Scalping
Entry Point: Around $28.90 - $29.00 (current price level) considering the bullish MACD signal.
Exit Point: Near $29.50 - $29.80 (resistance level) for quick profits.
Stop-Loss: Below $28.60 (to limit downside risk).
Intraday Trading
Entry Point: If price breaks above $29.00 and sustains, enter around $29.10.
Exit Point: Target $29.50 - $29.80.
Stop-Loss: Below $28.70.
Swing Trading
Entry Point: Buy around $28.90 - $29.00 (current level).
Exit Point: Target $30.00 - $30.50 (next major resistance).
Stop-Loss: Below $27.40 (support level).
Recommendations
Scalping: Look for quick profits near the $29.50 - $29.80 level.
Intraday: Watch for a break above $29.00 with a target towards $29.50 - $29.80.
Swing Trading: Enter around current levels with a target near $30.00 and a stop-loss below $27.40.
Summary
The chart shows potential for upward movement with the MACD indicating bullish momentum.
Use defined support and resistance levels to set entry, exit, and stop-loss points.
Monitor volume and MACD signals closely to confirm the direction of the trade.
PLTR - Time to sell some covered callsPLTR was on fire for a while, now time for a pullback to test the long term trend line, this is just get more stronger.
Target #1 - 24
Target #2 - 22
Target #3 - 20, possibility
Palantir Stock Surges 10% in Premarket Trading on TuesdayKey Takeaways:
- Palantir Technologies shares surged in extended trading Monday after the company reported better-than-expected quarterly results.
- The company lifted its full-year guidance on strong demand for its artificial intelligence platform.
- Palantir reported second-quarter revenue of $678.13 million, a 27% year-over-year increase, and net income of $134 million.
- CEO Alex Karp highlighted "unbridled demand" for Palantir's software as a key driver for the strong quarter.
In a significant market move, shares of Palantir Technologies Inc. (NYSE: NYSE:PLTR ) soared in premarket trading on Tuesday following the company's announcement of its second-quarter earnings. The data analytics giant exceeded Wall Street’s expectations, reporting a record high in quarterly earnings per share, driven by robust demand for its Artificial Intelligence Platform (AIP).
Earnings Beat Expectations
Palantir reported second-quarter revenue of $678.13 million, marking a 27% increase compared to the same period last year. This figure surpassed analysts' estimates compiled by Visible Alpha. Net income for the quarter stood at $134 million, translating to an earnings per share (EPS) of 6 cents, which also exceeded projections.
CEO Alex Karp attributed the strong performance to an "unbridled demand for and understanding of the capabilities of our software." The company’s commercial revenue saw a notable increase of 33% to $307 million, with U.S. commercial sales growing by 55% to $159 million.
Strong Full-Year Guidance
Palantir’s positive momentum is reflected in its optimistic guidance for the remainder of the year. The company now anticipates third-quarter revenue to range between $697 million and $701 million, surpassing analysts' forecasts. Furthermore, Palantir has revised its full-year revenue guidance upward to between $2.74 billion and $2.75 billion, up from the previous range of $2.68 billion to $2.69 billion.
Market Reaction and Future Outlook
Despite initial volatility, with shares opening 12% lower on Monday, Palantir staged an impressive intraday reversal. This move, marked by the highest trading volume since early May, suggests that larger market participants may have anticipated a significant earnings-driven move.
Technical Analysis: Key Price Levels
Looking ahead, investors should monitor key technical levels where Palantir (NYSE: NYSE:PLTR ) shares could face selling pressure. The $27 to $29 range is crucial, as it represents a resistance zone from trendlines connecting multiple swing highs since December 2020. A decisive close above this range could pave the way for a move towards the $39 level, where sellers might lock in profits near the February 2021 swing high.
A more bullish scenario could see Palantir retesting the $45 region, challenging its record high set in late January 2021. For long-term investors, projecting a target above the all-time high (ATH) using historical trends suggests a potential price target of around $50.50.
Conclusion
Palantir Technologies continues to solidify its position as a leader in the AI-driven data analytics space. With its robust quarterly performance and increased full-year guidance, the company is well-positioned to capitalize on the growing demand for its AI platform. Investors should keep an eye on key technical levels as Palantir navigates its next growth phase.
PLTR: Buy ideaOn PLTR we would have a hight probability to have an uptrend after the breakout with force the vwap indicator by a big green candle....
PLTR: we might see a announcement surprise beginning next weekAfter a good correction, we might see a major move prior to next earnings surprise Mai 6th... Wykhoff target of 31-33 might be in reach .
PLTR Earnings Options Analysis: Strong SupportsCurrent Price Level: NYSE:PLTR is currently trading around 23.79 USD.
Options Data:
IVRank: 95.8, indicating that the current implied volatility is at the 95.8th percentile over the past 52 weeks.
IV% 5d Change: 16%, showing a significant increase in implied volatility over the past 5 days.
Exp. move at 46 DTE: 4.6% for options expiring in 46 days.
Price Skew: 31.8%, indicating the difference between the bid and ask prices of options.
Market participants overpriced call options by 31.8% for the September expiration, indicating bullish sentiment despite the significant panic in the markets today.
Support Level: There is strong support below the 4/8 level, which is crucial for put options.
The green line represents the strike price expected by the market based on the options chain for 46 days to expiration (46 DTE), around 18 USD.
The Delta 16 PUT level is below the 4/8 Murrey Math level, indicating strong support based on the status of the current optionchain.
PLTR is getting ready to reverse the trend soonPLTR is getting ready to reverse the trend soon
For about two months, the price of PLTR has increased by approximately +45.50% from $20.5 to 29.80
The price in this zone tested a strong structural zone located to the left and also completed a Harmonic pattern.
During these days, PLTR may correct near to 28 - 28.50 and we can see the price start to fall again.
The catalyst for this movement could be the Earnings Report that will be published on August 5, 2024
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❤️
PLTR Tomorrow Report 8/5Recession Information
The likelihood of a recession in the U.S. remains significant, with various indicators and experts suggesting a high probability. Economic models predict a 56% to 85% chance of a recession by 2024 due to high inflation and interest rates, alongside global economic slowdowns in regions like Europe .
Technical Analysis
Chart Overview: The chart shows PLTR on a downtrend, with a significant volume profile indicating resistance around the $28.69 level and support at $23.75. The price is currently below the volume-weighted average price (VWAP), indicating bearish sentiment.
MACD Indicator: The MACD shows a potential bullish crossover, which could indicate a short-term reversal.
Trendline: The price is struggling to break above the descending trendline, a critical resistance point.
Earnings Report Impact
PLTR is set to release its earnings report tomorrow. Earnings reports can significantly impact stock prices, often leading to increased volatility. Positive earnings could break the downtrend, while disappointing results might accelerate the decline.
Market Sentiment
Given the current macroeconomic environment with recession fears, the broader market may exhibit bearish behavior, particularly if earnings results and economic data continue to disappoint.
Recommendation
Long Position: Consider going long if PLTR breaks above the descending trendline with strong volume, indicating a bullish reversal. Watch for positive earnings results and broader market sentiment.
Short Position: If the price fails to break the trendline and continues to show weakness, shorting could be a strategy. Negative earnings or broader market downturns would strengthen this case.
Technical Analysis for PLTR
Support and Resistance Levels
Resistance Levels:
$28.69: Significant resistance indicated by volume profile.
$26.00: Previous support now acting as resistance.
Support Levels:
$24.00: Recent low and psychological support.
$23.75: Lower bound indicated by volume profile.
Entry and Exit Points
Long Entry:
Above $26.00 on strong volume and breaking the descending trendline.
Confirmed by a MACD bullish crossover.
Exit for Long:
Near $28.69 (first resistance).
If price falls back below $26.00.
Short Entry:
Below $24.00 if price fails to break above $26.00.
Confirmed by bearish continuation on MACD.
Exit for Short:
Near $23.75 (first support).
If price climbs back above $24.00.
Strategy
Risk Management: Use tight stop-loss orders slightly below the support for long positions and slightly above the resistance for short positions.
Monitoring: Watch for earnings report impacts and overall market sentiment. Adjust positions accordingly based on new data and price action.
This approach combines technical levels with broader market context for trading strategy.
$PLTR flush before earnings or a sign.There is no news that I can see that justifies a drop like this.
Probably caused by NASDAQ:INTC earnings being a disaster.
Regardless this is the dip I wanted so I'm happy 😊
$PLTR - $30 ceiling is hitVery consistent chart here
- Wiggle room between $26-$30 within the next 7-14 days
- Cycle downward will start again once it crests the $30 mark
- Precise target is $30.30
- Resistance in volume and price here at the $26-$30 range
- Overbought - showing reversal downard that matches historic trend
PLTR is a train. Founder was co-founder of paypal. That exec team does not lose.
So, while the technicals here indicate an inevitable downward trend, especially if interest rates don't drop, I'd be weary of going short on this stock, but I def wouldn't go long
Not trade advice.
More downside before earnings $PLTRI love this stock and the long term aims and goals ahead but I feel there will be more of a pullback to the 200ma before earnings.
There was too much of surge in price and a cool of could let this explode on earnings
Palantir: Resistance Palantir has fallen back below the previously broken resistance at $27.50. Despite the current difficulties with this level, the rally should continue soon with the green impulse wave being expanded further north.
PLTR: A Major Turning Point! (D&W charts)On the daily chart, we see a bearish pivot point, which suggests a potential shift in the trend after an upward movement - if triggered. This pivot point will be triggered if the price closes below the 25.42 level, indicating increased selling pressure. The 21-day EMA, currently at 27.00, acted as a dynamic resistance during this decline, further validating the bearish sentiment.
On the weekly chart, a bearish engulfing pattern emerged near the 29.29 resistance level. This is PLTR's major resistance level, as we identified in our previous public analysis. This pattern typically indicates a reversal in the upward trend, as the large bearish candle completely engulfs the preceding smaller bullish candle. If PLTR triggers the bearish pivot point on the daily chart, it is possible to see its price back to the 21 ema on the weekly chart.
These combined signals from the daily and weekly charts suggest caution, as the bearish patterns and pivot points highlight potential downward pressure. The key levels to watch are the support at 25.42 and the resistance at 29.29, as these will likely dictate the next major move for PLTR.
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 today 7/30PLTR (Palantir Technologies Inc.) on the 1-hour timeframe.
Trend Analysis:
The chart shows an upward trend channel with the price oscillating between the upper and lower trend lines.
Currently, the price is near the lower trend line, which could act as support.
Moving Averages:
The red line (probably the 50-period moving average) is above the current price, indicating bearish sentiment in the short term.
The green line (possibly the 20-period moving average) is closer to the price, and the price seems to be fluctuating around it.
Volume Profile:
The volume profile on the right shows a significant volume node around the 27.14 level, which aligns with the current price. This suggests strong support/resistance at this level.
Higher volume nodes at 28.50 and 28.69 indicate potential resistance levels.
Indicators:
The MACD at the bottom shows a bullish crossover, which could signal a potential upward move if momentum continues.
The histogram is slightly positive, supporting the bullish sentiment.
Support and Resistance Levels:
Immediate support: 27.14 (current price level with high volume)
Immediate resistance: 28.11, followed by 28.50 and 28.69
Lower support: Around 25.42, where the volume profile shows a significant drop-off.
Strategy Suggestions:
Scalping Strategy:
Entry: Consider entering a long position near the lower trend line around 27.14 if the price shows signs of a bounce.
Exit: Look to take profits near the 28.11 and 28.50 resistance levels.
Stop Loss: Set a stop loss just below the lower trend line or the next significant support around 26.50.
Confirmation: Ensure there is confirmation of a bounce off the support level (e.g., bullish candlestick patterns, increasing volume).
This technical analysis provides a potential short-term trading strategy based on current chart patterns and indicators. Always consider additional factors and manage risks appropriately.
PLTR bullish? 7/24Let's analyze the PLTR chart for potential bullish signals:
Moving Averages: Trend lines suggest short-term movement.
Volume Profile:
Point of Control (POC): The POC is at 28.63, a crucial level indicating the price at which the highest volume was traded.
Value Area High (VAH): The VAH is at 28.93, which can act as resistance.
Value Area Low (VAL): The VAL is at 28.62, which can act as support.
Support and Resistance Levels:
Resistance: Around 28.93 (VAH) and previous highs around 29.
Support: Around 28.62 (VAL) and the low at 28.11.
Trend Lines: There is an ascending trend line, which indicates a potential upward trend or bullish movement.
MACD: The MACD lines are below the zero line but are converging, indicating a potential bullish crossover.
Bullish Signals:
Ascending Trend Line: The presence of the ascending trend line suggests that PLTR is in an upward trend.
Volume Profile: The price is hovering around the POC, indicating consolidation. If it breaks above the POC with volume, it could signify a bullish movement towards the VAH.
MACD: The convergence of MACD lines below the zero line suggests a potential bullish crossover, indicating possible upward momentum.
Potential Trading Strategy:
Entry Point:
Consider entering a long position if the price breaks above the POC (28.63) with significant volume, aiming for the VAH (28.93) or higher.
Stop Loss:
Place a stop loss slightly below the VAL (28.62) to limit potential losses if the price moves against your position.
Take Profit:
Consider taking profit near the VAH (28.93) or if the price reaches previous highs around 29.
Volume Analysis:
Monitor the volume closely. A strong bullish movement should be accompanied by higher-than-average volume to confirm the trend.
Based on the chart analysis, PLTR shows potential bullish signals, especially if it can break and sustain above the POC (28.63) with strong volume. Keep an eye on the MACD for confirmation of a bullish crossover and watch the volume for signs of strong buying interest.
PLTR on the EdgeI've had a lot of bullish ideas for PLTR lately, but it looks it's going to collapse now with many other things. It had a decent looking cup and handle and breakout potential above $27, but it did not sustain. It has came all the way back to $27 now, which is a level from 2021. Must hold or else.
PLTR: A Critical Inflection Point! (D & W Chart Analysis)The PLTR chart indicates a notable bullish trend across both the daily (1D) and weekly (1W) timeframes, with key levels of support and resistance that will play critical roles in the stock's future price movements.
On the daily chart, PLTR has shown a strong upward movement since early February 2024. The price has consistently stayed above the 21-day EMA, supporting the bullish sentiment. The main support level at $27.50, which corresponds to a previous top, has recently been tested and held, indicating that previous resistance has turned into support – another example of the Principle of Polarity in technical analysis. This level is crucial as it serves as a solid foundation for further upward movement. The recent candles show a break above this level, suggesting that the bulls are still in control.
The weekly chart provides a broader perspective on PLTR's price action. The stock has climbed steadily since the beginning of 2023, moving past previous resistance levels. The 21-week EMA has been a reliable support during this ascent. The current resistance around $29.29 is significant, as it aligns with the previous top from September 2021. A break above this level on the weekly timeframe would be a strong bullish signal, potentially leading to higher highs (new ATH?). Conversely, failure to breach this resistance could lead to a consolidation or a pullback towards the $27.50 support level or to the 21-day EMA again.
In summary, PLTR's overall trend remains bullish, supported by both daily and weekly moving averages and key support levels. The main resistance around $29.29 is critical; a successful break above this line could signal further upside potential. For now, we should watch for a confirmed close above this resistance to validate the bullish trend continuation. If the price fails to break above and falls back below the $27.50 support, it could indicate a period of consolidation or a potential pullback.
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: Buy ideaBuy idea on PLTR as you can see on the chart because we have the breakout with force the vwap indicator.
PLTR: Sell ideaSell idea on PLTR as you can see on the chart because we are under the vwap and also we have the breakout with force the support line.
