To The Moon

We have seen how $Palantir Technologies Inc.(PLTR)$ was down about 2% on 31 Dec 2024, but this is not the worst day for Palantir. We could still be seeing daily uptrend in motion.

The market is still looking for the daily higher lows anything above 70.5 for further trend continuation. We will actually see one last area of defense down at 72.

The $70 dollar is down at the 26 EMA, hence we have not lost the 26 EMA, since the month of September. Hence, I am holding onto my PLTR position.

Palantir (PLTR) On Daily Chart

But if we do lose it, there are some significant things we need to take note, if 26 EMA is lost, we will be on the verge of losing support, we will be losing the daily higher lows as well and you open the doors for something like this lower high into possible lower low for the paler bulls.

This might open a beautiful opportunity for some weekly consolidation.

Palantir (PLTR) On Weekly Chart

If we looked at the weekly chart, it is still looking for a weekly higher low anything about 70.5 for that weekly higher low for further trend consolidation.

So if things get bad in the month of January and paler gets dragged down in the mess.

Palantir (PLTR) On Monthly Chart

So if things really get bad for Palantir in January, we could be looking at the two 12 EMA which are looking to set weekly higher lows, but then they came back and pull into 12 EMA again before maybe setting a higher low and going for that one more leg upside to the upside.

If that happen, that might be a chance to look at putting some short puts, but we need to see the weekly RSI cool down a bit first.

This might be the perfect opportunity to do it in month of January, but we need to understand also the monthly candle Clos as well bit of a mixed bag right now, but candle on the top but still looking good the body of the candle is still healthy.

But after 6 to 8 months of rally in a row sometimes you do need to have a little bit of monthly consolidation which look to set up the monthly higher lows so if January and early February is the case for that.

That might not be due to fundamentals getting eroded or get worse or anything it may just be because the markets may have some monthly consolidation in them maybe you lose a little bit of momentum a little bit of hype on Palantir.

Summary

So what I am sharing is for a future time horizon trades, and actually the Palantir are still looking strong, but once we start to actually lose those levels, then we might need to find some opportunities to take advantage.

Appreciate if you could share your thoughts in the comment section whether you think Palantir bulls would continue to go strong despite some January consolidation might be expected.

@TigerStars @Daily_Discussion @Tiger_Earnings @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.