Palantir is a recent add to both our portfolio and we also took some Long Calls looking for it to breakout of resistance at $11.00. Need to see follow through, but our initial target is $13.50.
This was a recent IPO and though these are risky trades, when they pay off, they pay well, so after letting the dust settle after the IPO we decided to take a position looking for the same type of catalyst that we saw with Snowflake or Mecadlibre.
What we want to see now is the 11.00 level hold here. Nice we are getting the breakout but often stocks pullback to retest the prior resistance now support level. This is where we would be looking to add to our current position.
This was a recent IPO and though these are risky trades, when they pay off, they pay well, so after letting the dust settle after the IPO we decided to take a position looking for the same type of catalyst that we saw with Snowflake or Mecadlibre.
What we want to see now is the 11.00 level hold here. Nice we are getting the breakout but often stocks pullback to retest the prior resistance now support level. This is where we would be looking to add to our current position.