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PLTR

PLTR potential double bottom at MAJOR supportPLTR has had a major downtrend ever since its ATH @$45. I am hoping for this downtrend to break soon and this is why. PLTR has a major support zone around $20 - $22 dollars. ever since November 2020, so we could agree that it is a very well-respected support line. Also, it can be argued that it has formed a bullish falling wedge on the support. Measuring the price and date range of the falling wedge, I am expecting that this falling wedge would break out up to the neckline, where then the double bottom is formed, which is very bullish considering the massive downtrend and how underpriced the stock is. Also looking at the RSI value it is the lowest it has ever been currently at 22. That is not 1, not 2, 3 confirmations including the major support, falling wedge, and RSI value. Which would all indicate an uptrend. This is why I am expecting it to bounce off the major support and form a double top, which is also very bullish, however that is looking too far in the future where things could get unpredictable especially in these market conditions. I am looking forward to the falling wedge to breakout to the neckline and will be buying at this major support. Any questions, or criticism please don't hesitate to comment, as I want to hear what you guys think and if I am doing things wrong. (I am new to TA)
PLong
by oh_my_liquidity
5
PLTR long trade ideaPLTR is coming back down to the bottom of the recent trading range. $23 is a solid support and it is objective to go long here with stop should be placed below the trading range according to your upside target. On hourly chart, bullish falling wedge and oversold on RSI. Just swinging back to the top of the range is well into double digit potential gain. As we all know, trading range do not last forever, eventually it is going to move one way or the other. My strategy is to take a partial position here and if it breaks up, I will add onto my position. Another way I can see myself adding is when it slightly undercut the bottom of the range to shake off weak handed longs and shorts pile in and if it reverses, then it will be a bear trap. That can be the catalyst for next leg up. Have a good trade everyone, T.
PLong
by TK0421
PLTR: What it takes for it to fly again?Hello traders and investors! Let’s see how PLTR is doing today! Since our last analysis, PLTR did a downwards breakout from the dangerous Trap Zone . Now the trend is bearish, as it should be. Let’s see in detail what’s going on. First, in the 1h chart, PLTR lost the red line at $ 25.18 by doing a gap (yellow area), which was quite surprising. What’s more interesting is that PLTR retested the red line again as a resistance , along with the 21 ema, on March 17, but the price couldn’t sustain at this level. This is an annoying weakness sign. Now, the trend is clearly bearish, as we have lower highs/lows and the 21 ema is descending and pointing down. But PLTR has a technical target around the light blue line ($ 22.50). Now, let’s see the daily chart: The problem with PLTR is that we can’t take a movement like this seriously, as the volume is too low, but it seems the $ 22.50 is indeed the next target for PLTR. But as long as we don’t see any good reaction, with good volume, the bearish bias will persist. We don’t have a good reaction yet, but now that we are near a support level, is the best time to see one. And remember to follow me to keep in touch with my daily updates on PLTR and other stocks! If this idea gave you a new insight, please, support it ! Thank you very much!
P
by Nathan_The_Finance_Hydra
11
$PLTR - Mega Wedge UpdateHi ya all, Yesterday i posted about 1 possible Mega Wedge, today i realized i may have made a mistake and that the wedge i posted yesterday could be completely wrong. Yesterday's Mega Wedge is based on the trendlines drawn from the Jan 26 PLTR spike and this is likely very very WRONG. Why? Because i just realized that the reason why PLTR spiked on the ~26'th of January was only due to Gamestop. Hear me out before you click off... Gamestop rallied insanely during the 26'th-28'th of January. This has a big effect on the Russel 2000 (IWM) ETF it's part of. PLTR whilst not truly part of any index as said by themselves in their own prospectus ACTUALLY does track the Russel 2000 (IWM) quite perfectly. Now because Gamestop rallied insanely during those dates, it dragged up the whole index up as a whole which also dragged up PLTR as well along with it. This means that the spike that i based yesterday's technical analysis on is an anomaly, e.g i based my mega wedge based on an anomaly hence why yesterday's mega wedge is possibly WRONG . After realizing this mistake, i went and took a second look at the PLTR chart and realized that there still IS a wedge, a symmetrical one showing endless consolidation and accumulation at the $22-$29 area. Really, if you exclude the Jan 26-28 spikes, PLTR has truly actually traded only within this range for a very long time accumulating. Lots of institutions DID drop Palantir on earnings last month with new ones picking it up e.g Kathy Woods (Who despite Rumours is continuing to buy PLTR daily and has made big buys recently proof here: cathiesark.com ) The symmetric wedge ends on around May the 26'th. A breakout could come before or after this date or even not at all. My bet is that a breakout will come at the end of this wedge and that the next price target should be a big one, but this is just my own opinion based on nothing and you shouldn't listen to me. I am invested in Gamestop and PLTR and i think the only reason PLTR will do so well in the near future is only due to Gamestop's big incoming gamma to short squeeze. No one knows when it's going to happen or whether it's going to be a singular event or a slow squeeze like Tesla. If it's a big event, it's going to make the Russel 2000 (IWM) and PLTR go up A LOT making PLTR a big winner for momentum and volatility traders. I have an appetite for risk and volatility so i'm in... Regardless, i have a boatload of calls for May for Palantir that i'm likely going to roll over to a later date now that i've realized that nothing might happen by the end of May other than small ups and downs e.g theta-gang-ing for PLTR. Heck, i might sell some contracts for it and theta gang this thing.
PLong
by leenixusu
3
$PLTR - Mega bullish wedge about to end...Hi ya all, This is all my opinion and my own strategy. I'm not a financial advisor, just an ape that threw a bunch of money into PLTR based on this trade idea. The 'Thesis' See the mega bullish wedge that's been forming on GME for ages now. It also intersects with previous MEGA support possibly making the upswing date tomorrow or within this week. The idea is that the bullish wedge has possible ending points, one is tomorrow (within this week) and the other one ends on the 14'th of April, though it's possible for a breakout to start sooner and it often does (not with PLTR though, PLTR is always exactly on time). Depending on your risk appetite, you can grab some PLTR shares now, or calls from now. Chances are, this is the bottom. If this is NOT the bottom, and in fact we have 20 more days to go to the end of the bullish wedge (i absolutely doubt it), then the bottom is ~$20-$21. A solid strat is to buy some now so you can be strapped onto the possible rocket and buy some later if it dips. Personally i've thrown a lot at it at $24.12 because i feel like we're not going to have a fakeout to $21 to shake some weak hands (pretty sure i'm going to be wrong on this one and i'm going to have to BTFD at $21 ish). Basically pick one of the bullish wedges on the chart or both and make your bets. Shares are as always safer than calls. Don't forget PLTR's float is ~1.5 billion-ish shares and only a small fraction of those are bought. I think this will ride to at least $39 with a max to $72 if market conditions during the next 30 days are not windy and with perfectly sunny weather. If weather is not great, we could see a simple run up to $35 and maybe max out at $39 and that'll be that. I like to dream big, so i'm gonna say the range is $39 - $72 by sometime late April or maybe all the way into June, who bloody knows. As usual i might be a chump and this could all be wrong. I'm literally trying to predict the future. Let's see how that works out for the boatload of super super far OTM contracts and 0 shares i bought. Not revealing my positions not to expose them to bots and data miners. Sorry, but cry all you want. Believe it or not, there's lots of eyes watching.
PLong
by leenixusu
2
Areas of Supports and Resistance for $PLTRI am Bullish long term for this company. Big data management is the future for almost every Company if you can manage data for other companies it is a win-win for both parties. unlike selling the software as a service to a normal joe they are selling it to big companies which tends to have strict contracts and high per-customer spending. As the CEO said stay here for a long run or find other option. let's stay here. The company is spending aggressively on the software which will give good returns in a few years. Follow for more technical analysis.
PLong
by Shaggyyyz