Ahoy fellow investors! Todays chart analysis is on Palantir Technologies
PLTR
.
As you can see, Palantir cleared its 3 resistance price points of 25.50, 27.00 and 29.00 respectively and its on a strong upward trend heading for ALL time highs.
What i like about this rally is that:
1. There has been more and more positive news since the last run up to $33.50
2. Palantir just announced it will extend its partnership with the Greek government and its COVID-19 response effort (huge news as it allows exposure into PLTR business application)
3. It announced a new government contract that will pay $44,000,000 over 3 years (i believe those are the figures)
All of the recent good news plus what i am seeing in the weekly chart on the RSI (over 80 = super strong) and MACD (between 1 & 2 = strong) makes me like this rally and
i am confident that Palantir will reach ATHs (All time highs) and even surpass them.
As of now, the stock is sitting just over $30, after posting a 21% intraday rally.
Clear skies ahead for Palantir and i think it will touch $40 this week should the broad market conditions don't hinder its rally.
I own both stock at IPO and hold several call positions for end of the year expirations on 25 to 40 strikes.
Let's see how this unfolds! #GIDDYUP !!
PLTR
. As you can see, Palantir cleared its 3 resistance price points of 25.50, 27.00 and 29.00 respectively and its on a strong upward trend heading for ALL time highs.
What i like about this rally is that:
1. There has been more and more positive news since the last run up to $33.50
2. Palantir just announced it will extend its partnership with the Greek government and its COVID-19 response effort (huge news as it allows exposure into PLTR business application)
3. It announced a new government contract that will pay $44,000,000 over 3 years (i believe those are the figures)
All of the recent good news plus what i am seeing in the weekly chart on the RSI (over 80 = super strong) and MACD (between 1 & 2 = strong) makes me like this rally and
i am confident that Palantir will reach ATHs (All time highs) and even surpass them.
As of now, the stock is sitting just over $30, after posting a 21% intraday rally.
Clear skies ahead for Palantir and i think it will touch $40 this week should the broad market conditions don't hinder its rally.
I own both stock at IPO and hold several call positions for end of the year expirations on 25 to 40 strikes.
Let's see how this unfolds! #GIDDYUP !!