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PLTR - Next Generational Company

Palantir Technologies Inc. (NYSE: PLTR) is an American software company specializing in big data analytics. Palantir offers platforms like Palantir Gotham, used by defense and intelligence agencies; Palantir Foundry, designed for data integration and analysis across industries; and Palantir Apollo, which facilitates continuous software deployment. In April 2023, Palantir introduced the Artificial Intelligence Platform (AIP) to integrate large language models into secure networks. Recent earnings have surprised to the upside, reassuring investors that the company is able to monetize its services in an industry where many AI related and data analytic companies to not provide similar competitiveness.

At the moment, Palantir has seen a massive drop from the all time high, creating a potential ABC corrective structure with the 1-1 extension being around the $80 range.

I will be interesting in adding shares if Palantir can flush down to these levels in the coming days!

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Orders filled

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I want to be clear as well, as we have strong resistance including a gap level at $100 I will be taking profits on the way up. In the instance that we get a reversal , the trade will have been in profit

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What I ultimately believe will happen, as we put in this final wave 5 is a liquidity grab (sfp) into the high before a larger drop to fill the gap below

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Larger view

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Current indicators

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Looking nice. I have taken 10% off to cover my stopl loss and reduce my risk.

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Looking for some strength if this wedge formation plays out. CPI day tomorrow, and the market does have potential to move

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Getting the breakout as expected

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Looking for this overall breakout zone to hold at the 0.618 retracement here. Breaking below with a daily close would be very bearish

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Lets bring it back to 90

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Watch out for the VWAP. There are quite a bit of sell orders in that zone. It would not be a surprise to see a pullback from that zone.

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VWAP from the low is always an important indicator of the current trend

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So far all going according to plan!

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Power of moving averages

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Nice take profit at $90, now waiting to see the reaction at the VWAP

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If we break above, I will look to the daily vwap around $93. But this might be a cool-off zone for now before a further leg. As long as we hold the vwap from the lows, the probability would suggest more upside. Breaking it would be a warning sign.

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Strong close today. If this is the local bottom, It would be nice to see the inverse of the drop start to play out. We'll see how it progresses. For now, the key for strength is for price to reclaim the downtrend vwap and move into the Gap Zone. From there, we would need to see buyers step in on the retest.

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Taking another 10% on this rally to cover the stoploss! Will add more shares on major dips. For now lets see if the markets wish to recover.

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Waiting to compound this trade if given the opportunity. I would like to compound at this price point.

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And here we are

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Mental note should have been more aware of the longer term VWAP below in confluence with the 1.618 of this ABC correction to add some more shares, however this doesn't quite change much regardless as I expect the market to rotate moving forward. Closing below the VWAP we are bouncing from would be the sell side signal.

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Looking for the next push higher

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Looking great so far

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accumulating this dip with the vix at 40. This is historically the best time to buy stock.

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Perfect reaction this last week. You can almost see the patterns showing us signs of the reversal. Firstly, we do have a bearish rising wedge. Keep an eye on the drop to the CC zone and moving averages. This might be the last chance before the rip

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Didnt get the deeper pullback I expected, but nonethless, working out for the overall long

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Dont forget to take profits on the way up! What a move

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Would love to see a move similar to this. We have rallied 18% in just 5 days. Perhaps a liquidity sweep to reset the long/short ration before continuation.