As an investor in Palantir, I’ve employed a strategic approach, leveraging technical analysis and price action to inform my decisions. Despite holding a small position, I’m confident in Palantir’s long-term prospects. To increase my stake, I’ve utilized Cash Secured Put Options, selling them at strike prices where I’m comfortable owning the stock in case of temporary market downturns or non-fundamental pullbacks. This strategy has been fruitful, with many of these options expiring worthless, allowing me to retain the full premiums collected while Palantir has been on an upwards momentum.
Last Friday, Palantir faced a setback, dropping over 6% due to some downgrading news. I saw this as an opportunity and seized it by selling more Cash Secured Put Options. This downturn caused a significant red candlestick, breaking out of the channel it had been following since its last earnings report, though finding support at the 50EMA. If the stock continues to decline, it may approach the 200EMA and reenter the broader channel established since its first profitable earnings report in May last year. In such a scenario, I anticipate acquiring more lots of Palantir, further bolstering my position in this promising stock.
@TigerEvents @Daily_Discussion @TigerStars @MillionaireTiger @CaptainTiger
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
