What is up moon gang? I hope you're having a good one today. Let's talk about palantir, because i believe the stock is coming up on an excellent investment opportunity in this video. I will be doing a technical breakdown of palutear, so i can highlight the key price levels that we should be watching moving forward before we get into all that, though, if you're new to the channel don't forget to join the moon game by hitting the subscribe button, I'm attempting to hit 10 000 subscribers and your help with hitting that goal would be truly appreciated and, as always, if you enjoyed this video, it would be great if you could drop a like, because it really helps with getting it in front of other people. Who may be interested and now let's get started alrighty then so when the stock market closed for the week, three of the major indices were pretty much flat and essentially the same thing can be said about palantir, ticker symbol.

Pltr palantir stock is just above 27, which means over the past week. It gained a very respectable 13.5 percent and ever since its ipo, the stock is now up an incredible 171 percent, and here is the current technical situation that palantir is in for those of you who are new to the channel palantir ipo right at the end of September and up until mid-november, it was range bound between nine dollars and eleven dollars, and eventually there was a breakout and a new relative high at seventeen. Then, after two days of consolidation, there was a breakout and after riding this trendline for a few days, there was an explosion to the current all-time high at 33.50. Unfortunately, from there citron tweeted some bearish comments about palantir calling in stock a full-blown casino and at one point it dropped as low as 21.

Then, after building a foundation of support between 22 and 24, it was announced that palantir secured a 40 million dollar contract with the fda and the stock shot up to 31, which formed this bullish, pennant and now pound tier is sitting right at 27.. If this overall bullish momentum were to continue, the first technical resistance would come at this trend line, which would roughly be around 29 and past that we have the most recent relative high at 31 and of course, after that, we have the all-time high at 33.50. From the most recent close to get back to that all-time high, it would be a gain of 23 in terms of technical support. Demand might be found at yesterday's low right around the key psychological level of 25, but i'm much more interested in this region of support between 22 and 24..

As things currently stand, there really isn't too much going on in the rsi moving forward. My prediction for palantir is to consolidate a bit more in this triangle and eventually break out above this chopped trend line, so it can make a run at its all-time high to get a better idea of what might happen over the next few training days, though, let's See what's going on in the smaller time frame of four hours before we jump into this portion of the video, i wanted to quickly mention that the name of this charting software is trading view and there's a link to it in the description of this video. Anyway. Back to palantir, when the stock finally got on top of this trend line, there was a very impressive rally of over 66 before citron ruined the fun and put it in this downward channel, which is also referred to as a bull flag.

Eventually, there was a breakout and some consolidation right around the 24 price level, and then this was followed by the fda contract announcement, which shot the stock up right around 25 percent and made a new relative high above 30 dollars. Since then, the stock has slightly declined and support has been found at the 26 mark, which is the start of this bull flag. Recently, there's been no divergence or anything like that in the rsi, the current value is essentially neutral, which makes sense, because it looks like palantir stock has been consolidating over the past three days. Once this period of consolidation ends, there will be a large swing if the bulls end up winning the first resistance would come at this top trend line and if the bears end up winning, i would recommend watching this region between 22 and 24, which could potentially align With this bottom trend line now, personally, i would be happy with either of these situations.

I just don't want the stock to trade sideways if palantir were to drop, i would finally have the opportunity to invest in the company and i'm looking to have a cost basis right around 23. However, if the bull camp wins right away, i'm fine with that as well, because i do own call options on the stock that would be in profit to be fully transparent with you, the details of those option contracts are on the screen right now. The strike price is 31, the expiration date is december 24th, and the premium that i paid per call contract was a dollar 95 and, as you can see, this order was filled on december 10th. As of now, i am slightly positive on all of my palantir option.

Plays but i have a pretty good feeling about the current one and if that ends up blowing up in my face at least, i will have the opportunity to finally invest overall, i am bullish on palantir, because it's in an excellent business sector, data analytics and software And its main client is the ultra wealthy us government in all reality, i'm not that worried about citron's bearish comments, because they said similar things about both tesla and nvidia and look at where those stocks are now, as things continue to develop with palantir, both fundamentally and Technically i'll make sure to keep you updated in future videos and also keep you posted on my investment position and how the option player works out so make sure you have your notifications turned on. I would absolutely love to know your thoughts on palantir in a comment below more specifically. Do you think it's a good idea to invest somewhere between 22 and 24 dollars and if you have any questions, feel free to post those as well as a quick reminder? If you enjoyed this video, it would be great if you could drop a like and if you haven't already don't forget, to join the moon gang by hitting the subscribe button. All of your support is truly appreciated and, if you're new to training or if you're, just looking for 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 the appropriate deposit of at least 100, you will be awarded four free stocks, so it's definitely worthwhile to check out thanks for watching and until next time best of luck in the markets. You.