I haven’t talked about Palantir since March 2021,
I was certainly expecting better performances, but I am staying absolutely long for the long term.
The reasons why Palantir is a must-have stock are many and will be analyzed more carefully for the private group participants (stay tuned because there will be a special price at the launch), you just need to say that we are talking about one of the real big data giants. We speak of the present but also, indeed above all, of the future.
After the March investment, the price broke the resistance of $ 21 after testing the level twice, but it did not “lose” enough to be able to make another entry that I would have made if the tightening had occurred until the area of $ 12.
After the break in May, the price quickly and strongly resumed the price of $ 21, and then touched the area of $ 27 (corresponding to the 382 Fibonacci level, see chart).
After a foreseeable retracement again in the $ 21 area, a very important level for the future, after the Earnings on August 12, positive with a surprise of 13%, PLTR opened in the Gap and then basically remained stationary on Friday 13.
The uptrend may have started, we are on the “C” leg of the more classic ABCD pattern.
The key level that needs to be broken to the upside for Palantir to be sure to be in an uptrend is $ 27.52.
PLTR is part of my long-term portfolio, in August I don’t usually trade with a few-day swing because the volumes are low and the American indices are at all-time highs.
It is reasonable to expect a pull-back in the short term, something will certainly happen when the Fed changes its interest rate policy.
Consequently, the new levels where you can enter or add size to the position are $ 21 and the “new” $ 17 marked in May.
The targets for those who instead moved with short time horizons:
- 27.52 $
- 34 $
- 45 $ (where I too would take home some profit)
DISCLAIMER: I am not a financial advisor nor a CPA. These posts, videos, and any other contents are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.