Don’t forget about Palintir ($PLTR). It’s a coiled spring that’s ready to pop. (December 21, 2020)
PLTR
I want to talk about Palantir ( NYSE: PLTR ). This IPO was originated by Peter Thiel who is one of the sharpest guys around. Since this last breakout, I will say around 11ish; the stock ran up over 200 percent in 3 weeks, in 13 trading days this thing was up and so that’s the end of that run, right? Yes, it sure was. After it hit the top it fell back almost 40 percent in a week, and so I think a lot of people gave up on this thing.
I am looking at this and I am getting pretty excited because it looks to me like this thing is just about ready to roll again. And in fact, if it’s up at all tomorrow, we’ll say above 29.00, if it’s above 29.00 I am probably going to wind up putting this on our Active Trade List, which is a list of stocks that we follow with entries, how long to hold, exits, and stuff like that; you are basically doing the trade right along with me.
I am looking at this tomorrow, if it doesn’t break out above here then I am not going to put it on. But the way I look at this stock now, it’s up over 10 percent today, volume is pretty good. It’s a little bit lower than average, sure, but look how many shares were traded during this period of time here, 200 million some days, on an IPO, if we tightened up the moving average to get rid of this stuff you would see that this is actually well above what I would consider to be average or normal volume.
I think this stock is ready to roll. I would look at buying it on any breakout. You have to kind of give it a little bit of a loose stop because it may pull back into this area in here. But what you really want to do is, you want to stay long the stock unless or until it falls below this level. If it falls below here then you don’t want to be long the stock. That is my trade idea on Palantir ( NYSE: PLTR ).
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