Some bears in PLTR stock have undoubtedly exited their positions following the company's earnings beat and solid guidance. But not everyone. One analyst from RBC maintained a sell rating and set a fresh price target of $5.00.
Closer to the 'market is always right' side of things, today's massive 30% jump has shares pressing against possible churn-like and disgruntled resistance dating back to 2021. The area spans roughly $21 - $26 and includes a now pierced 38% retracement level, the stock's lifetime 50% level above, and most immediately, offers pattern readers a "is it or is it not" double top position relative to PLTR's November high.
I'm vested in seeing the bright and upside of things for PLTR and an emerging bull trend in place, and that this is one of those situations where resistance will be overcome. That said though, and controlling the champagne flow, a hedge adjustment from a married put to a collar placed around the improved trend was determined to be a prudent move.
Closer to the 'market is always right' side of things, today's massive 30% jump has shares pressing against possible churn-like and disgruntled resistance dating back to 2021. The area spans roughly $21 - $26 and includes a now pierced 38% retracement level, the stock's lifetime 50% level above, and most immediately, offers pattern readers a "is it or is it not" double top position relative to PLTR's November high.
I'm vested in seeing the bright and upside of things for PLTR and an emerging bull trend in place, and that this is one of those situations where resistance will be overcome. That said though, and controlling the champagne flow, a hedge adjustment from a married put to a collar placed around the improved trend was determined to be a prudent move.