Why I Bought Palantir (PLTR) and Signs of Trend Continuation
1. Breakout Above $125 Resistance
Palantir recently broke through the $125 resistance, confirming strong bullish momentum. This breakout signals a continuation of the uptrend, supported by increasing volume, which indicates market confidence. Buying near a breakout often captures the next leg up.
2. Riding the Bollinger Band Uptrend
The price is riding the upper Bollinger Band ($131.55), which is a classic sign of a strong uptrend. Despite trading near the upper band, the consistent green candles suggest that buyers are in control.
3. MACD in Strong Bullish Territory
The MACD (12, 26, 9) is fully bullish:
• DIF (12.19) is above DEA (9.77), showing a positive crossover.
• The green histogram bars are extending, signaling increasing bullish momentum.
• No signs of divergence yet, which means the trend has strength.
4. Candlestick Reversal Pattern and Continuation
The last three candles show a pattern of bullish continuation:
• Day 1 (Long Green Candle): Strong buying momentum pushed through resistance.
• Day 2 (Slight Pullback with Lower Wick): Sellers tried to push down, but buyers regained control, forming a bullish pin bar.
• Day 3 (Bullish Engulfing): A large green candle engulfed the previous day’s range, confirming that buyers are firmly in control.
5. Next Targets and Risk Management
• Short-Term Target: $132.64 (next resistance on the chart).
• Long-Term Target: $150 (round psychological level).
• Stop-Loss: $118 (below the last breakout level) to limit downside risk.
Final Thoughts:
I bought PLTR because of its breakout above $125, a strong uptrend along the Bollinger Band, a bullish MACD crossover, and a three-candle continuation pattern. I plan to trail my stop to lock in profits if the trend continues toward $132 and beyond.
$Palantir Technologies Inc.(PLTR)$ @TigerStars @MillionaireTiger @CaptainTiger @TigerTradingNotes @TigerTradingNotes @Daily_Discussion
| Side | Price | Realized P&L |
|---|---|---|
| Buy Open | 120.38 | -- Closed |
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.
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