I hope that everyone had a wonderful holiday and could return to their work smoothly.
We didn’t release any update on Palantir in the last months because the stock experienced a steady decline in volatility and didn’t give investors many clues about its future. But everyone who is familiar with Wyckoff accumulation and distribution patterns can be excited for the coming weeks. In the last weeks a very clean Accumulation Pattern emerged in the chart and I marked the most important things for everyone.
Additionally, Palantir has formed a promising wave 1 – wave 2 setup which is marked in orange. Both these positive patterns give reason to be optimistic about the stock price! Fundamentally the company is still reporting losses in it’s balance sheet but the management has been very busy forming partnerships and their expansion to Europe brings great potential.
It’s safe to say that Europe can only benefit from this expansion because we don’t really have such competitive and innovative companies over here.
Note that we are still invested in Palantir with both long positions disclosed below… We continue to be optimistic about the future, and the possible end of the bear market in tech stocks could give further steam to this upcoming rally…
Greetings from switzerland!
Benjamin Mendenmein
Long #1 AVERAGE EXECUTION PRICE: $12.53 STOP-LOSS: NONE LONGTERM-TARGET: +$80
LONG #2 AVERAGE EXECUTION PRICE: $7.59 STOP-LOSS: NONE LONGTERM-TARGET: +$80
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.