To The Moon

$Palantir Technologies Inc.(PLTR)$ have always been one of my most watched stocks. I have this stock at an average price of $9. But I do see more potential in Palantir in the future.

This is because the progress of A.I. have been evolving very well and more and more companies are beginning to realize the importance of A.I.

Companies always have different set of data collected over the years from their different business segments. How can they really make a story to help them in propelling their growth?

I remember a project that I did 5 years ago where we were asked to look at a company with over 50 years of data collected from consumer spending, business engagement and some internal data.

How this company try to make sense of these data is to engage data analyst to collate these data and try to make a story. That is very time consuming and also not really cost efficient.

In the machine learning one important process is called Data processing. This is usually the most important part as data can be in many format and contain false positive as well. So how can we make use of a better technology to filter and take out the false positive so that it will not affect what they are going to build in future.

Palantir Gotham was used to help the company to combine, manage, protect, and analyze large chunks of data. The company starts analyzing data from multiple sources, fuse them into a human-centric model, tag and secure data, and then bring it to their internal team for human-driven analysis.

In this article I will be sharing on what I think it is time for Palantir opportunity as I have used technical analysis (ADX and MACD) and I observed that there is a potential upside movement coming.

Technical Analysis - Average Directional Index (ADX)

I run a script to capture the current ADX, +DI and -DI values and Palantir values look promising. Another stock which is Apple (AAPL) which I will share in another article.

I shall explain more in a chart. ADX is between 20 and 40 indicate a developing trend and +DI is just above -DI which indicate a bullish upside forming.

I will consider to load more Palantir with a target price of around $16, I believe there might be some adjustment in today (31 August 2023) trading.

Technical Analysis - MACD

I have a sub MACD tool which will provide me signal on when to buy or sell. it has indicated a BUY signal for Palantir.

To confirm it, we can see that MACD (blue line) is crossing above the signal line (red line) indicate bullish signal and suggest potential price upward momentum.

I would consider to look at Palantir.

Summary

Based on the 2 indicators which I have shared, Palantir is presenting an opportunity to buy. But it would be advisable to also look at the price action on the actual trading day to confirm if you would want to place a trade.

This is also good practice to confirm what we have seen with other trend indicators to determine if there is any false signals that can be seen.

Overall, I would think it is time to look at Palantir now.

Appreciate if you could share your thoughts in the comment section whether you think is it a good time to look at and buy Palantir?

@TigerStars @Daily_Discussion @TigerWire appreciate if you could feature this article so that fellow tiger would benefit from my investing and trading thoughts.

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.