Check out Finviz.com and look at PLTR's insider trading. You'll see huge stock dumps by CEO Alex Karp totaling over 20,000,000 shares. Not only does this add selling pressure but it effectively dilutes the stock. That being said, there havent been ANY insider sells/buys in the past month. November was littered with them. If you look at things like the Chaikin Oscillator, Chaikin Money Flow, or MACD (4h bars is what I have up at the moment) you can see clear divergences that are hinting that there is accumulation going on at the current price level. Considering that the $17.80-$18.00 range has been almost like steel I would agree.....the price simply hasn't been able to go down through that area. I really thought it would today but it held right at $17.80. Today was about the worst case scenario for PLTR - strong open, and then whipsawed a full 5.5% intraday. That's bad mojo. With that being said, the support line held, and it spent the last hour of the day going up into the close. That's good mojo. I have numerous articles on PLTR as it's a personal fav of mine to trade, but I am now holding about 3000 shares long as everything except the descending triangle visible on the daily bars indicates it's in accumulation mode and will begin a trek upward soon.
srp192
⋅
bear flags are sloped up
HassiOnTheMoon
⋅
so hard to say where it'll go. The way everyone talks about PLTR at these levels is like wishful thinking. I think everyone needs to appreciate this is a 50/50 split on direction. this stock is so reliant on the Macro environment at these early stages of it's IPO
HHSPN
⋅
What's a good price to buy if it capitulates, back to $9 or 95% of peak? TIA
bmoneytree
⋅
@HHSPN, hard to pick a price wait for sentiment to shift and a clear up trend/support to form Bears are in control at the moment
Alex Karp does not give a shit about its share holders PLTR is a long term 3+ year investment dollar coast average is not a bad idea at these levels can see it reaching 15.90's if we lose current support