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PLTR

PLTR: Is it ready to fly?Hello trader and investors! Let’s talk about PLTR today! As we thought, in our previous analysis last week, the stock gave us a nice exhaustion sign of the sell pressure. We identified this movement only reading the candlesticks and the volume . As a Price Action trader, I don’t need to use any indicators, and if you are curious, the link to our last analysis is below this idea, as usual. But what about now? The stock is clearly in a bull trend after the false breakout from the $ 22.06 (another thing we discussed in our previous study), and it is doing higher highs/lows. It had a pivot point at $ 23.50, which now is supposed to work as a support, along with the 21 ema, which is pointing up, another sign that we are in a bull trend, at least in the short-term. Let’s see the daily chart for more clues: The stock is still in a congestion in the daily chart, moving sideways since February. This is annoying, but on the bright side, it is not a bear trend anymore. The stock has a floor around the $ 20.18 (red line), and a purple trendline connecting the past three bottoms. This makes the situation hard for the bears, as if they want the stock to drop, they will need to defeat these points. Although it is near a support level, we don’t have a clear bullish structure , like higher highs/lows. In addition, the volume must increase too in order to PLTR break this mid-term congestion. These two signs tell me that now it is not the time for PLTR to fly, but soon it’ll. It just needs to mature its movements a little bit longer. Maybe next week, when we talk about it again, we’ll see something new. Meanwhile, remember to follow me to keep in touch with my daily updates, and if you liked this idea, then please, support it! Thank you very much!
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by Nathan_The_Finance_Hydra
13
PLTR Asymmetric TriangleAsymmetric triangle leading up to the Earnings Announcement. The direction of the break will most likely depend on Earnings. Upwards Target: $32 (if they beat earnings price will be justified) Downwards Target $18 (downside seems very limited from here even on an earnings miss) ANALYST ESTIMATES: Earnings Estimate Current Qtr.1 Next Year (2022) Avg. Estimate 0.04 0.21 Low Estimate 0.03 0.16 High Estimate 0.05 0.27 Current estimates show roughly 30% growth Year over Year.
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by SheepWoolos
1
Respect the Channel: Fade the Discord DarlingAny discussion of PLTR is full of rosy but vague fundamental projections that will supposedly take this thing to $60+. Retail investors are pouring their life savings into it (one guy on Discord was talking about putting his whole 401(K) into 2023 LEAPS). Retail investors do NOT have a good track record in the stock market, and reality is already reasserting itself with these retail darlings. When you hear normies talking about a stock, it's probably a good idea to look into fading it long term (this is in contrast to Bitcoin - it lives in both worlds - normies call it "fake internet money" during accumulation periods - yet get crazy about buying in during distribution. This is only the 3rd time I've seen it happen). Respect the downward channel and target the lower bounds ($15-16 before reassessing). Trend following has a fantastic success rate over the long term; just limit your risk, and you're good (my bear tracking portfolio is up 7% since its inception March 12 despite SPY melt up; one can only imagine the returns when SPY melts down).
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by dtingbudong
11
PLTR: Targets to work with for the short/mid-term!Hello traders and investors! Let’s see how PLTR is doing today! In our last study, PLTR was looking great, but the Gift pattern didn’t work this time, and now it is just heading to the next support levels. Now, we have a short-term bear trend in the 1h chart, and no reaction sign ahead. The only way PLTR could reverse this bearish sentiment would be if it does a bullish structure, like a bullish chart pattern, or triggers a pivot point. The $ 22.06 is a nice support level, and if PLTR closes above it tomorrow, the market may see a false breakout form a support level, but it seems this is not going to happen, and PLTR will seek the next support at $ 21.07. Now, let’s see if the daily chart offers more clues: The interesting thing here is that PLTR is dropping in the past few days, but the volume has been decreasing too. This shows exhaustion form the bears, and any bullish reaction will be more than enough to reverse this trend. The $ 24.45 is a resistance to be defeated in order for it to seek the gap at $ 31.34. In the worst-case scenario PLTR will seek the support at the red line again. Remember to follow me to keep updated about my daily studies, and if you liked this idea, please, support it! Thank you very much!
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by Nathan_The_Finance_Hydra
7