I expect Palantir to go all the way to $23.58 or a little over $24 and create the Bearish Three Drives as RSI won't be reaching to 85-87 points and pull back to lower $19 levels along the all-time VWAP and might find support. This idea is against the trend line so I would recommend keeping the stop-loss level close in case you enter the short trade in the coming weeks. I like options trading so I will be waiting to see current bullish momentum slows down and I can buy $19-$20 Puts and sell the next day with expected 40-60% gains.
NOTE: Fed meeting in March and if Powell does not cut rates all markets will drop for a day or two so I will try buying PUTs on this a day or a week before.
PLTR
NOTE: Fed meeting in March and if Powell does not cut rates all markets will drop for a day or two so I will try buying PUTs on this a day or a week before.
PLTR
Comment:
Bought 3/15 $22 PUT at .49, stop at .41
Comment:
Sold at .75 this is what I expected 61% gain!