Any 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).
I think well touch the uper band and possibly break in earnings, I'm not saying 60 but I'm saying we fill the gap in the 30s
dtingbudong
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@mrushilreddy, it actually dropped the last two earnings. Whether it goes up or down on May 14, I have no idea. May 14 is also a long way off, and this trade may well hit its targets before then.
@mrushilreddy, it'll fill the gap, it wont see $15-16. It also won't see $60 this year. However it's just a matter of time.
mrushilreddy
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@pac2k9, I defenitely agree, 60 is way to high but we need to close that gap soon.
vchsoft
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$15-16 ignores essentially every resistance below 23. A more realistic lower bound to target on PLTR is $18-19. It should be noted that discussions of this company are never in the short term - they're all projections of the company's success 3-4 years out, minimum, and premised on adoption of the company's platform - so they're almost necessarily vague (unless you can accurately predict the next 3-4 years of PLTR's innovation). I also wouldn't exactly describe Cathy Woods and the people managing ARKK normies lol
dtingbudong
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@vchsoft, Woods isn't a normie. She's a scammer of them.
vchsoft
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@dtingbudong, So are you trying to say, you couldn't care less about the stock's supports and resistances, and that you think that a team of analysts spent $114 mil on a stock for the purpose of "scamming the normies"? Sorry but that's not a valid dd...