What's going on moon gang, i hope that you're, having an awesome day in this video, i will be discussing the data analytics company palantir palantir is a relatively new stock and it's prompting quite a bit of investor excitement. Today i will be covering what wall street is saying about the company. I will be doing a technical breakdown of its stock and, at the end i will be sharing the position i just opened on palantir, but before i get into all that, if you're new to the channel don't forget to join the moon gang by hitting the subscribe Button i recently hit 5 000 subscribers, so a huge shout out to everyone that has supported me. I truly appreciate it now: let's keep the good times going and roll the tape.

Okay, then, let's kick things off with the bear case. Surprise, surprise, not all of wall street likes palantir stock, sichon research just came out saying that paluntir is no longer a stock, but a full casino. In fact, they said that palantir will sink roughly 33 percent as reality catches up with this massive rally in a tweet on friday november 27th, the short-selling firm established a year-end price target of twenty dollars for palantir shares. The data mining company shares are up more than three hundred percent since the direct listing on september 30th, citron's target is still double palantir's, debut price, but citron said palutear's rally is unsustainable.

Now, in a general sense, i do respect what citron has to say in the past. They have gotten some impressive calls right, but they've also gotten some wrong at the time that i'm making this video. I believe that they have a short position on neo and i don't think that's working out too well for them. My point is that, just because someone doesn't like your investment idea, doesn't mean it's a bad play in fact, there's quite a few people on wall street who think that palantir is actually a good play.

The legendary investor, steve cohen, is very bullish on paluntir, steve cohen's. .72 asset management disclosed one of the largest stakes in palantir as of september 30th, amounting to almost 30 million shares and on top of that anchorage capital disclosed a 2.9 million share stake in palantir, while third point management disclosed a 2.4 million shares stake. Clearly, there's a lot of money behind this company, whether you're, bullish or bearish. I would always recommend that you take in as many viewpoints as possible, so you can better understand your investment with that being said, though, as things currently stand, i am bullish on palantir.

First of all, i think that their co-founder peter thiel's name carries quite a bit of weight, and second, i absolutely love the industry that volunteers in they are a big data, analytics company that counts the us government as a top customer. I truly believe that big data analytics will be incredibly important in the future and, to top it off, the us government will be footing the bill. What a perfect combination. Fundamentally, i believe that palantir has a bright future, but let's switch over to the charts.

So we can check out the technicals. The last trading day of november is now over and both the dow and s p 500 closed out the month with a loss, but the nasdaq 100 did post a small gain, palantir trades under the ticker pltr, and today it dropped two percent which puts the stock At 27, today's action was pretty heavy, the total volume of shares traded was 136 million and the average volume over the past 10 days has been 114 million over the past week. Palantir is up 48 over the past month. It's up 150 percent and since its ipo at the end of september, palantir is now up a very impressive 171 palantir stock made its public debut on september 30th of this year, but the company was founded all the way back in 2003 palantir.

I peeled through a direct listing, which i found to be a bit interesting because it seems like spag plays, are now very popular, but hey i'm willing to bet that peter thiel knows exactly what he's doing anyway. Here is the current technical situation that we are dealing with, pltr ipo'd at 10 and all the way up until november 4th the stock was caught in the range between nine dollars and eleven dollars. Eventually, there was a rally up to a new relative high at seventeen dollars, and then this was followed by a breakout which led to an explosion to a new all-time high at thirty three dollars and fifty cents. Now because there isn't much data on this daily chart, there isn't too much to go off of, but, as things currently stand, the closest support would come at this trend line and the psychological level of 20, which would be a drop of 26 percent and below that.

We have the last relative high at 1750, which would be a drop of 35 percent. However, with that being said, this stock clearly has a lot of bullish momentum and, i think, there's a better chance of hitting the first resistance at 33.50, which would be a gain of 23 before we hit the first support. If we take a look at the rsi, it is in the overbought territory but, as i said before, there isn't much historical data to compare this to. So i really don't find it that bothersome as we move forward, though i will be looking for both bearish and bullish divergence before i switch over to the four hour chart as a quick side note, the name of the charting software that i use is tradingview and There's a link in the description of this video.

The company is currently running a black friday deal where you get the first month for free. So if you're at all interested, i would highly recommend checking it out on this time frame. I've included pre and post market training and when you do that, you get an additional region of support between 22, 50 and 24, which is where the stock found demand today and back on november 24th and 25th. If you're feeling a bit risky, you could attempt to invest in this area, but i would recommend a little bit of caution because the next support after that would be somewhere between seventeen fifty and twenty dollars.

Now i would like to bring your attention to something i noticed in the rsi. If you take a look at these two points, you'll see that, even though the stock made a new relative high, the rsi didn't, this is referred to as bearish divergence and it's commonly assigned that the buyers are getting tired and a period of consolidation might follow. And that's exactly what we're experiencing now. To put it another way, i'm looking for palantir to find support at an upcoming price level which would allow the rsi to cool off and a strong foundation to be built and then from there.

The stock would be able to shoot up to a new all-time high. But to get a better idea of where support might be found, let's switch over to the 30-minute chart on this time frame. You can see that the rsi is already pretty low, which makes me think that a bounce will come sooner rather than later, but that doesn't mean that the stock can't drop more. In the meantime, if you're feeling a bit risky, you could try to hop on the train at 24, which is where the stock found support on november 27th and resistance on the 25th.

But if you want to be a little bit more conservative, you can watch 24, which is where the stock found support today and was also rejected on november 24th and if you're a person who wants more of a dynamic target, you could wait for the stock to Break above this trend line, as things continue to progress and palantir. Finally, bounces i'm expecting some resistance to be found at 30, which is where the stock was rejected today, and it's also, the area of this gap fill and then past that, of course, we have the all-time high at 33.50 in the short term i'll closely be watching These levels of support and resistance, and also be paying attention for divergent setups in the rsi. But in the long term i do believe that palantir is a long-term winner, because it's in a great business sector - and it deals with the us government and on top of that, its stock can clearly prompt a lot of excitement. I think it's just a matter of time before pltr clears 50, 75 and even 100.

On more of a personal note, i have yet to invest in palantir, but i am pretty excited about the current momentum, so i decided to buy some call options here. Are the exact details of that play? The strike price is 28, the expiration date is december. 4Th and the premium per contract was 2 dollars and 30 cents, as things continue to develop, both fundamentally and technically, with paluntir i'll make sure to keep you updated in future. Videos and also keep you posted on how this options play works out so make sure you have.

Your notifications turned on thanks for making it to this point in the video. I truly hope that you found some value in it. As a quick reminder, everything expressed in this video are my own opinions and i am not a financial advisor, so i recommend that you do your own research with that being said, though, i would love to know your thoughts on palantir in a comment below. Are you buying, holding or selling, and what are your price targets if you're new to trading or, if you're, just looking to open a new trading, account, there's a link to the weeble trading platform in the description of this video? If you sign up and make a deposit of 100 you'll be awarded four free stocks, which could be valued up to 3 700., i would definitely recommend checking it out and as always, if you enjoyed this video, don't forget to drop a like, and if you haven't Already don't forget to join the moon gang by hitting the subscribe button.

All that engagement really helps me out thanks for watching and until next time best of luck in the markets. You.