Palantir Technologies

  • PLTR

  • $64.09

  • +4.45%

  • $61.60

  • $64.44

  • $61.37

Granny Shots
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Ticker Appearances

Tue, November 5, 2024 | 1:18PM ET

⚡ FlashInsights

Tue, November 5, 2024 | 1:18PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥
PLTR 4.45%  has gapped up on good earnings and solid AI demand back to new all-time highs, above the last few weeks along with the former intra-week highs from 2021. Given the possible huge low to high range for this week and elevated volume on this rise, I'm inclined to believe this is very positive for PLTR. Furthermore, no evidence of counter-trend exhaustion is now present on daily nor weekly timeframe. Thus, the ability to close out today at/near its highs of the day (or in upper quartile of today's range) would likely help short-term momentum to be jumpstarted and might provide some upside to 58-60. Note, of the 20 Sell side analysts who cover PLTR, only 4 are rated "BUY" 10 are rated Hold and 6 are rated "sell". I suspect that heading into the final stretch of the year, many sell side analysts who've been bearish, won't wish to carry a bearish/sell rating into year-end given the "need" to be right along with Bonus season for sell side firms in December. I suspect that a number of them might begin to upgrade based on the timing of PLTR's earnings coinciding with their negative views. Technically this stock remains very attractive despite being overbought. Gains are likely into mid-November before some minor consolidation into December in all likelihood but should occur from higher levels.
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Daily Technical Strategy
Mon, November 4, 2024 | 7:02PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Software continues to make strides vs. Semiconductors

EQUITY TRENDS REMAIN BULLISH FROM EARLY AUGUST BUT HAVE SHOWN MILD CONSOLIDATION OVER THE LAST TWO WEEKS WHICH HAS RESULTED IN A 2% DECLINE IN...

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Visitor: 8b48a5-c3607f-3c6d24-823e96-2a0b89

Daily Technical Strategy
Tue, October 8, 2024 | 6:35PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Software breakout should help drive further relative strength within Tech

SHORT-TERM US EQUITY TRENDS LOOK TO HAVE TURNED BACK HIGHER LAST FRIDAY FOLLOWING A CHOPPY PERIOD OF CONSOLIDATION IN RECENT WEEKS.   DESPITE A PLETHORA OF...

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Visitor: 8b48a5-c3607f-3c6d24-823e96-2a0b89

Tue, October 8, 2024 | 12:07PM ET

⚡ FlashInsights

Tue, October 8, 2024 | 12:07PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Time to refresh comments on IGV 1.65% , the Ishares expanded Tech-Software ETF, as this is now exceeding 90, and officially breaking out above two prior peaks from this year along with Nov 2021 in a very bullish Cup and Handle pattern back to new all-time high territory. While Semis still are outperforming Software on an intermediate-term basis, Software has shown better relative strength since this Summer. Note, this Software outperformance is not the normal MSFT 1.00%  led rally. Rather, it's being led by PLTR 4.45% , ORCL -0.04% , NOW 1.29% , and strong movement out of the likes of CRM 1.86% , PANW -3.65%  which i suspect should rally back to all-time highs. (More on this topic in tonight's report)
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