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?
PTX trade ideas
PLTR deep dive on potential shortPLTR I have marked the last previous zones for the major corrections. The average correction has been in the 27% range with about 16 weeks between each correction. Given my prior statement about setting up a short around 40$, this is in alignment with the plan. I have added a demand box which is a monthly zone, drawn optimistically. The weekly stochastic is very overheated here, the daily is pointing upward. This leads me to believe we see this overheat in the coming weeks before a major correction. The stock has run way from the moving averages pretty heavily and rides the top of Bollinger bands.
My plan:
40$ is the fib zone I have been eyeing, this is also a strong psychological level
The RSI will top around then as well and using price and range statistics I will predict this around the 16th week with around a 25-28% correction to the demand zone drawn. I will buy long put spreads that are fairly aggressive likely Dec or Jan
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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PLTR (Palantir Technologies)Support Zone:
There’s a significant support zone around the $35.80–$36.10 level, marked by the green shaded area. This level has seen multiple bounces in the past, indicating strong buying pressure when the price nears this zone.
The price previously tested and rejected this area, leading to a reversal.
Resistance Levels:
Immediate resistance is around $37.64, as shown by the most recent test of this level on the chart. There’s also a higher resistance at $37.70, which has seen multiple rejections.
Further resistance above these levels is likely around $38.20, near the upper trendline.
Trendlines:
The diagonal white trendline indicates an upward trajectory, showing a bullish trend within this timeframe. PLTR has been respecting this trendline, with each touch leading to a potential bounce upward.
Volume:
The volume shows a slight uptick on the recent bullish move, signaling increasing interest from buyers. Watch for volume confirmation if the price breaks through the current resistance levels.
Entry/Exit Points:
A potential entry could be around the support zone ($36.10) if the price pulls back. However, if you’re already in the trade, watching for a breakout above $37.70 would be a solid bullish continuation signal.
A conservative exit could be around $38.20 or trailing your stop loss as the price moves toward this region.
Indicators:
The oscillators at the bottom seem to be showing bullish momentum building. However, ensure that the oscillator doesn’t go into overbought territory too soon, as this could signal a short-term correction.
Strategy:
Bullish scenario: If PLTR breaks above $37.70 with good volume, it may continue toward $38.20 and potentially beyond. Setting stop losses just below the trendline or the $36.40 level could be a prudent risk management approach.
Bearish scenario: If PLTR fails to hold above the trendline or breaks below $36.10, there could be a retest of $35.80 and possibly lower levels.
Scalping PLTR today (October 1, 2024)1. Support and Resistance Levels
Immediate Resistance: $37.47 (visible from the recent high).
Immediate Support: Around $37.15 (VWAP point and price consolidation level).
Lower Support: $36.65 (where the volume profile shows significant interest).
2. Volume Profile
There is a high volume node around the $37.00 - $37.20 range, indicating this area could act as both support or resistance in the short term, depending on market direction.
Below $37.00, the next volume support is around $36.65, which could be a target if price breaks down further.
3. EMA Analysis
The 15 EMA (yellow line) and 161 EMA (purple line) appear to be tightly following the price, meaning there's current consolidation or indecision in the market.
Watch for any break above or below these EMAs for scalping opportunities, particularly on the upside above $37.20 and downside below $37.10.
4. Price Action for the Week
Bullish scenario: If PLTR breaks above $37.47, look for the next target around $37.60 - $37.80. A break above these levels could indicate a potential trend continuation.
Bearish scenario: If price breaks below the $37.00 support and volume supports the breakdown, the next target could be the $36.65 level or lower.
5. MACD and Momentum Indicators
The MACD seems to be flattening, which confirms the consolidation. For scalp entries, it’s crucial to wait for momentum shifts as indicated by the MACD crossover or divergences in volume.
Scalping Strategy for Today
Breakout trade: If PLTR breaks above $37.20 with strong volume, consider entering long with a target at $37.47.
Breakdown trade: If price breaks below $37.10 with rising sell volume, consider shorting with a target at $36.65.
Watch the volume profile levels: Price action near these zones can help in determining scalping entries or exits.
Will PLTR Bearish? TA for PLTR Tomorrow 9/301. Trend Analysis:
PLTR shows a consolidating pattern with the price narrowing into a symmetrical triangle, suggesting a potential breakout soon. The price action is moving between tightening support and resistance levels.
Heikin Ashi candles indicate a lack of clear direction, reflecting consolidation.
2. Support and Resistance Levels:
Support Levels:
$36.85: Immediate support level.
$36.60: A strong support level where buyers may step in.
$36.39: A key support level near the lower end of the recent price range.
$34.90: Major historical support level from earlier moves (not shown but inferred from the low).
Resistance Levels:
$37.10: Immediate resistance level that coincides with recent price rejection.
$37.47: Resistance from previous highs.
$37.64: A more significant resistance, which has been tested several times.
3. Price Action:
Neutral to Slightly Bearish: The price is consolidating and slightly leaning downward in the triangle pattern, indicating some bearish pressure. However, it could go either way depending on the volume and market sentiment tomorrow.
Watch for a breakout above $37.10 for a potential bullish reversal, or a breakdown below $36.60 for a bearish move.
4. Entry/Exit Strategy:
Bullish Entry: If the price breaks and holds above $37.10 with strong volume, consider entering a long position targeting $37.47 or $37.64. Place a stop loss just below $36.86.
Bearish Entry: If the price breaks below $36.60, enter a short position with targets near $36.39 and $34.90. Place a stop loss just above $37.10.
5. Directional Bias:
Neutral to Slightly Bearish: Due to the symmetrical triangle and weakening support, the bias leans bearish unless the price breaks above $37.10. Volume will be key to confirm the breakout or breakdown direction.
Be cautious of false breakouts, and look for confirmation through volume spikes.
PLTR looks exhausted for short termIt's below 5 day MA , looks will do the same as it did before -5 or -8% down ... then next leg up ... give it 2 weeks
PLTR too stretched, 8% pullback before next leg up Thought I am super bullish on PLTR but 8% pullback is healthy so that I could get back in
PLTR: Critical reversal points! D & H charts.Daily Chart:
Trend Continuation: PLTR is maintaining its bullish momentum as evidenced by its consistent move above the 21-day EMA (blue line), which has acted as a dynamic support throughout this uptrend. The price recently pulled back but bounced back after testing the $33.13 support level, which also aligns with previous top in August.
Key Support: The $33.13 level is crucial as it previously acted as resistance during the early stages of the current uptrend. A break below this level could signal a shift in market sentiment.
Momentum: The current price action is showing consolidation around the $36-$37 area, suggesting some short-term indecision, but the overall structure remains bullish as long as the price stays above the $33.13 level.
Hourly Chart:
Trend Line Support: The hourly chart shows a well-defined ascending channel. The lower trendline is acting as strong dynamic support, helping maintain the upward trajectory in this shorter timeframe. The price recently tested this trendline and bounced, showing respect for the ascending structure.
Potential Breakout: The price remains within the channel, continuing the trend. However, a breakdown below the trendline could introduce short-term bearish sentiment, especially if it falls below the $36-$35 area.
Resistance Levels: Immediate resistance lies around $38. If this level is broken, PLTR could test higher resistance levels, potentially near the channel's resistance, or even the ATH again.
Conclusion:
PLTR is continuing its bullish momentum, supported by both the 21-day EMA on the daily chart and the ascending channel on the hourly chart. Key support to watch remains at $33.13, while the $38 resistance could signal further upside if broken. If it loses the channel observed in the hourly chart downwards, it would trigger a short-term pullback to the critical support level around $33 seen in the daily chart.
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.
Palantir Technologies (PLTR) tomorrow's trading 9/24/24Price Action
Current Trend: PLTR is continuing its upward momentum, following a strong move that began earlier this month. It is currently trading near its recent highs around $38.19.
Price Range: The stock has formed a higher high and is near a significant resistance level, with potential consolidation or a breakout setup.
Support & Resistance Levels
Immediate Resistance:
$38.19, which marks today's high, is a key resistance level. A break above this could propel the stock toward $39 and beyond.
Above that, the next key resistance is around $40, which is both a psychological barrier and a potential breakout level.
Immediate Support:
The $37.43 level is immediate support, followed by $36.00, which is a key support zone. If PLTR sees a pullback, this level could provide buying opportunities.
If the stock breaks below $36, the next strong support is around $35.73, which is near the previous trendline support.
Volume & Indicators
Volume: There has been consistent buying volume as the stock has moved higher, indicating strong bullish sentiment.
Momentum Indicators: Momentum indicators suggest the stock is still in an uptrend, but nearing overbought conditions. This implies that while PLTR could continue higher, a pullback or consolidation may occur soon.
Outlook for Tomorrow
Bullish Scenario: A break above $38.19 could see PLTR testing the $39 to $40 level. Watch for increased volume on a breakout to confirm sustained buying pressure.
Bearish Scenario: If PLTR fails to break above $38.19 and sees a reversal, it may test support at $37.43, with further downside potential toward $36.00 if selling pressure increases.
Suggestion
For Bullish Traders: Look for a breakout above $38.19 for a momentum trade. If the stock breaks out with volume, targets could be $39 to $40.
For Bearish Traders: Watch for a rejection near the resistance level and a potential reversal. If PLTR fails to hold $37.43, there could be an opportunity to short the stock toward $36.00.
Overall, PLTR's price action suggests a continuation of its uptrend, but traders should be cautious as the stock is approaching resistance, and overbought signals could lead to a short-term pullback.
Palantir : A clear shortwith more than 200x forward PE it's kind of a "lesser" unexpensive stock... with a reversion to the daily mean (28) and weekly mean (21) , I wonder if Jim Simons would have continued to stay long. sorry folks, but it is a mania. get out of it ! funds have included PLTR in their ETF's and there will be no more buying from that side.
PLTR to 40ish then correctionPLTR is on fire lately and clearly overvalued even for PLTR long-term bulls. I believe we hit the psychological level of 40$ and then we see another correction like the previous. I marked the last 3 major corrections and the average correction is just about 29%. A 25% correction would perfectly correct the the prior fib and by then around the 50 week EMA. Since PLTR is a cult stock I can see the dip being bought up aggressively so I will utilize the demand zone I drew for a broader range.
The Play:
As we approach 40$, layer in long puts with a spread 2 month out + 6 month out
I will choose strikes with high open interest
PLTR signals reversal is close byPLTR gaps below upward trend line showing last few days as a false breakout with price exhaustion
horizontal support forms. Once PLTR breaks below this and holds, more selling to come
RSI pushes below SMA showing validation with the move.
Volume increasing on the gap also giving validation to the recent move down
We should start to see more weakness in the stock going forward for a little bit.
Palanatir - time for a shakeout Revisiting an idea from a week ago, I won’t go into depth here so please refer to my previous trade idea for details.
I think we will drop here and bag holders will be left hung to dry, whilst the CEO sand other top Executives offload their stocks.
Enjoy!
PLTR: Seel idea: PullbackOn PLTR as you can see on the chart we have a pullback on vwap indicator so it's mean that we would have a hight probability to have a downtrend.
Palantir (PLTR) – Correction Time?Palantir ( NYSE:PLTR ) is completing a cup-and-handle pattern and is now pushing toward its all-time high of $45. However, with the RSI running hot and the 150-day moving average well below current levels, the stock looks overextended . Historically, Palantir tends to see a pullback before earnings, which could present an opportunity for a better entry point .
A gap has formed below, and I expect a potential pullback to the newly created support zone at $29.50 .
I believe Palantir is a strong long-term hold, but I'll be watching closely for a correction to enter around $29.51-$31.80.
Do you think Palantir will continue its run to the all-time high, or will the pullback before earnings provide a better entry? How do you see the gap closure playing into the stock's momentum?
PLTR: heading into resistance 40 dollars is so close and also I think that's where we're heading in the short term.
I do however think that the market has been pricing in rate cuts for September. They're satisfied and could possibly begin to take their profits.
Time will tell.
This is short term correctional sentiment but the market is still very strong and I think we have another year+ in the tank for this bull market.
There's just way too much money sitting on the sidelines that have been benefitting from higher interest rates. Now they're going to be making less.
Comparison: $TSLA and $PLTR S&P 500 InclusionComparison: NASDAQ:TSLA and NYSE:PLTR S&P 500 Inclusion
Palantir Technologies is set to join the S&P 500 on September 23, 2024
This milestone mirrors Tesla's inclusion in the index back on December 21, 2020
- Tesla's Journey: Prior to its S&P 500 inclusion, Tesla's stock experienced a significant upward trend, which continued for several weeks post-inclusion before entering a prolonged period of sideways consolidation for almost a year (chart above)
- Palantir's Path: Interestingly, Palantir's stock price trajectory in the months leading up to its S&P 500 inclusion shows striking similarities to Tesla's pre-inclusion performance (chart below)
Do you think that Palantir will behave similarly to Tesla after the inclusion? i.e.:
- Short-term: Further upward trend in the immediate weeks following its inclusion
- Long-term: A possible sideways consolidation, akin to Tesla's post-inclusion phase
Palantir Technologies and a strong look into its FundamentalsNYSE:PLTR is one of the most popular stocks of the last 2 years , and not for no reason being a high revenue growth stock "16.8% Growth Rate" , My personal problem with the stock lays with the valuation holding a PE Ratio of 201x, and a forward PE Ratio of 172.5x, a 20.1x Price to Books Ratio, and a 32.8x Price to Sales (Revenue) Ratio. an interesting Return on Equity of 10% , A Return on Assets of 4.6% , And an Return on Capital Employed of 6.7% , with Net margins of 16.3%. Being Completely "Debt" free according to there Balance Sheet
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Valuation:
PE Ratio: 201x
Forward PE Ratio: 172.5x
Price to Sales: 32.8x
Price to Books Ratio: 20.1x
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Balance Sheet:
Cash: US$4.00b
Debt: US$0
Equity: US$4.14b
Total Liabilities: US$1.05b
Total Assets: US$5.19b
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Strengths and Weaknesses:
The Valuation to me personally is a weakness, however the Balance sheet is a Strength in my view. I think based on the price I currently would wait to add this one to my own portfolio however all investors and traders are different.
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Disclaimer: I am not a financial advisor and in no way am I signaling a sell, buy, or hold opinion on this stock (Palantir Technologies) I am just giving my personal opinion as a hobby trader, I have no certifications and I am not a financial analyst, I also may be wrong about how I feel about the stock. I want you to do plenty more research on this and the stocks you are interested in because the stock market always holds a lot of risk that may pose different risks and overall be different for each investor and trader. Please do not make opinions based on this idea or any idea. Please be careful! this post is only for conversation.
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Idea:
PLTR signals over boughtPLTR breaks above its upward trend signaling that it is over bought and poised for a possible reversal
When stock is trending upwards steadily, seeing it break above its upward trend is a sign of price exhaustion
when this occurs we usually a experience a reversal shortly after
sometimes stocks going really far into overbought zones before finally turning around.
We see the last 2 hours of trading, the stock started selling off when smart money was in control indicating that the stock was too expensive
PLTR in-depth technical analysis for tomorrow 9/17/2024Price Action Overview:
Recent Trend: PLTR has been in a strong uptrend recently, with a breakout above $34 and making new highs at $36.91. This breakout seems to have been supported by higher trading volume, indicating strength in the move.
Current Price: PLTR is trading at $36.35, slightly below its intraday high. It is consolidating near this level, which suggests that it could be forming a base for the next move.
Support Levels:
Immediate Support: $36.00 (previous swing high and a key psychological level).
Stronger Support: $34.91, which also coincides with a high-volume node on the Volume Profile. Below that, the $34.50 area shows strong support from past price action and volume consolidation.
Resistance Levels:
Immediate Resistance: $36.91 (recent high), and if broken, PLTR could target the next psychological level of $37 and beyond.
Potential Breakout Target: If PLTR can break above $36.91 with strong momentum, it could see a continuation rally toward $38.
Indicators:
Moving Averages (MAs): The price is well above both short-term and long-term moving averages (notably the 50-period MA), which confirms the strength of the uptrend.
Volume Profile: The visible range volume profile indicates that most of the recent volume has been traded between $34.50 and $36.00, making this a strong support zone in case of a pullback.
Prediction and Strategy:
Bullish Case: If PLTR holds above $36.00 and breaks through the $36.91 resistance, a rally toward $37.50 or $38 is highly probable. Momentum traders will likely enter at the breakout.
Bearish Case: In case PLTR faces rejection around $36.91 and falls below $36.00, it might pull back to test the $34.91 support level. This could present a buying opportunity for dip buyers.
Conclusion:
For tomorrow’s session, watch for a break of $36.91 for further upside. If PLTR consolidates around $36.00 or drops, it could bounce around the $34.91 support level before making its next move. Keep an eye on volume and market sentiment to gauge whether the stock will push through resistance or retrace to find stronger support.
PLTR Elliott Wave countI see three major scenarios:
Most likely(PINK):
Primary degree A is a three wave move down from primary degree 1 followed by a three wave WXY up into the target zones to complete primary degree B, Looking for primary degree C down in five waves to complete the Flat.
*Advice* is to wait for price to enter the target zones above to observe the reaction. If we get a strong rejection in 5 waves down that goes on to break two previous corrections in the uptrend, we want to enter on a B/X/2 wave(correction up in the downtrend) to capture the move down on the short side.
Moderately Likely(TEAL):
Primary degree 1 is followed by an ABC correction in 2 which is complete. We now have a double 1-2 in progress with the minute degree 1 being a diagonal which is currently in (iii), we still need a (iv) and (v) in the diagonal before minute degree 1 is complete.
*Advice* is to wait for minute degree 1 in the diagonal to complete and buy the 0.5-0.618 retrace of the minute degree 1 diagonal which should be swift in anticipation of the minute degree 3 up. Before buying we need to see a five wave move up off the low with good a good volume profile.
Least likely(GREEN):
Currently a triple 1-2 with the three of minute degree just getting underway. Note however that we have gaps bellow the last pivot indicating price should return to this region for liquidity. The more 1-2's we chain together the less likely the count, that's why this is the least likely count.
*Advice* is to wait for minute degree 4 for an entry.
Palantir Stock Set to Join S&P 500 Amid AI MomentumPalantir Technologies (NYSE: NYSE:PLTR ) has been at the forefront of discussions among bulls and bears alike. With its inclusion in the S&P 500, the company's strides in artificial intelligence (AI) are now drawing more attention than ever. On the one hand, bulls point to improved profitability and its AI potential, while bears remain skeptical about whether the company's revenue growth will reaccelerate to justify its valuation.
Palantir’s AI Expansion
Palantir’s data analytics software has long been integral to government operations, particularly in intelligence gathering, counterterrorism, and military missions. However, in 2023, Palantir set its sights on the commercial sector, aiming to use its Artificial Intelligence Platform (AIP) to drive growth beyond government contracts.
The company's AIP is gaining traction. At its fifth AIP conference, over 100 organizations demonstrated their AI use cases, covering industries ranging from railroads to healthcare. Despite this momentum, some analysts express concerns over Palantir's high valuation, trading at 24 times 2025 estimated revenue. Bulls, however, see the potential of AI products to bring long-term growth, particularly with the company's recent defense contracts.
Palantir’s success in AI also extends to government projects. The extension of its Project Maven contract by the U.S. Army brings in about $90 million annually, and the Department of Defense's AI office awarded Palantir a five-year contract worth $480 million. Additionally, Palantir’s $178 million contract for Project TITAN showcases its role in the future of battlefield AI.
The company’s fundamentals remain strong, despite a deceleration in revenue growth. In 2023, Palantir grew its revenue by 17% year-over-year to $2.23 billion. The company generates around 60% of its revenue from government agencies, but with the commercial AI push, this balance may shift over time. It remains to be seen whether Palantir can continue to capitalize on its AI expertise in both sectors.
Technical Outlook
On the technical front, Palantir stock has been on a tear in 2024, up 107% year-to-date. Over the past three months, NYSE:PLTR has formed a bullish reversal pattern, surging from its lows and gaining strong momentum as it approaches its S&P 500 inclusion on September 23. This event is expected to further drive institutional interest in the stock as mutual funds and large investors will be required to hold shares.
Palantir’s Relative Strength Index (RSI) stands at 72, indicating that the stock is in overbought territory. Despite this, the stock's bullish momentum shows no signs of stopping. On the daily price chart, a bullish harami pattern has emerged, signaling potential continuation of the uptrend.
The next key resistance level is set at $42, a target that aligns with the highs from June 2021. If Palantir can break through this resistance, the stock could set new all-time highs. However, with the RSI in overbought territory, a short-term pullback is also possible as investors take profits.
Palantir’s Accumulation/Distribution Rating of A reflects strong institutional buying over the past 13 weeks, further bolstered by its Composite Rating of 99 out of 99, signifying its overall strength in the market.
Conclusion
With Palantir set to join the S&P 500 and its AI ambitions expanding, the stock presents a compelling case for long-term investors. While valuation concerns linger, Palantir’s government contracts and AI-driven commercial growth provide a foundation for further upside. Technically, the stock is in a bullish reversal with momentum pushing towards a $42 target. However, investors should keep an eye on the overbought RSI and be prepared for possible short-term corrections.
Palantir remains a stock to watch, blending AI innovation with solid government partnerships to maintain its place as a leader in both sectors.
