PLTR - Another month of holding, but relative weakness remains

jfsrevg
07-01

$Palantir Technologies Inc.(PLTR)$ - Update (Another month of holding, but relative weakness remains)

Since the last update of my PLTR hold on 30/5, we are met with another harsh action, closing down -9.4% and slicing through both the 10- and 20-day moving averages in a single session.

I didn’t exit the position (neither did I add size due to the relative weakness), similar to recent single day pullback on May 6 (-12%) and June 5 (-7.8%) as I continue to follow my 10-MA sell rule, which I’ve consistently shared.

If you're aiming to extend your average holding period, you have to get comfortable with unrealized drawdowns while committing to a non-discretionary exit strategy.

One variable to expanding the returns in your position is via extending your holding period. All price action requires time to develop before moving higher, regardless of the timeframe.

As of now, PLTR has been held for 68 days (since April 23) strictly based on this simple 10-MA rule.

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  • Porter Harry
    ·07-01
    Insightful sharing! In the long-term perspective, PLTR still has value.🐂🔥
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