NVDA
NVIDIA
-- 140.110 RGTI
Rigetti Computing
-- 10.0400 TSLA
Tesla
-- 394.940 PLTR
Palantir
-- 68.230 AMD
Advanced Micro Devices
-- 121.840 
AI Data Services INOD Another PLTR In Making For Santa Rally!
As we have the U.S. government averting another shutdown, so now the next interesting to look at is are you looking forward for a Santa Rally this week (23 Dec).
If you have been following how last Friday session closed, Volume on the New York Stock Exchange and on the Nasdaq rose. Friday is a "triple witching" day of options expirations.
Advancing stocks outnumbered decliners by more than 7-to-2 on the NYSE and by about 11-to-5 on the Nasdaq, according to FactSet. All 11 S&P 500 sector indexes finished higher, the first time that's happened since 05 Nov.
The small-cap benchmark Russell 2000 rebounded 0.9% but had been up as much as 1.9%. The Innovator IBD 50 (FFTY) exchange traded fund outperformed, gaining 2%, although it too pared gains.
With market showing strength of a comeback, I am looking for stocks which might give us an opportunity as they tried for a santa rally.
One of the names that I have held, Palantir have make a nice upside with more than 8%, but I am looking for technicals to show us that there is opportunities beyond the current.
Palantir Helped S&P 500 Technology Sector
Among the Magnificent Seven, Tesla (TSLA) reversed more than 1% higher. Meta Platforms (META) did the same, while Microsoft (MSFT), Amazon.com (AMZN) and Apple (AAPL) also reversed higher. Alphabet and Meta are in the IBD Leaderboard model portfolio.
Nvidia (NVDA) gained ground Friday after the stock finished higher Thursday, though it is still trading below the 50-day moving average, but the significant gains from $Palantir (PLTR.US)$ deserve our attention. It has risen by 8.54% on last Friday.
From the technical, we are seeing Palantir to go higher as my previous article which mentioned that 69 is the level which we can consider to enter, and Palantir have managed to stay above it, and move above the $80 dollars.
It is trading way above the short-term and long-term MA, and we are seeing MACD despite in a bearish movement, display a potential bullish MACD crossover in the making.
MTF is also giving a strong upward trend, and this might be a chance for investors to watch the price action on Palantir for another possible opportunity to buy before 2025 and for a possible santa rally.
Innodata (INOD) Another Potential Data Services Stock
As AI development matures, the focus on how data is being processed will be more important, and Innodata, the partner of choice for data quality, scale, and agility, with contracts already in place with five of the "Magnificent 7" tech giants, and two more deals expected later this year.
Similar to Palantir, Innodata's decades of experience and expertise in data annotation and AI will position the company as a leader in the rapidly growing field. I
Innodata's capabilities in delivering high-quality data and agility as key strengths that will drive its success in the AI market.
And from the technical we are seeing $Innodata (INOD.US)$ breaking out positively from its consolidation since last Thursday to trade higher than the short-term and long-term MA, and a potential bullish MACD crossover is coming. MTF just helped the confirmation with a strong upward trend.
Summary
I will be watching these 2 stocks which are data services focused, this is an important part in the AI development cycle. I have mentioned in many of my articles, so now it is time to take advantage to enter if you have not.
For Palantir, current price at $80 might seem to be expensive but do watch out for a possible short pullback before it go into a rally.
For INOD, the current price at around $43 might be something you can consider, as this might be another palantir in the making.
I will be watching to get into INOD to capture the opportunity that AI data services stocks might present to us.
Appreciate if you could share your thoughts in the comment section whether you think INOD would be gathering for a santa rally with Palantir.
Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Dan’l : Wouldn’t have a clue as $Innodata (INOD.US)$ at this time, buUut… look into Anduril, as partly responsible for $Palantir (PLTR.US)$’s recent uptick (ultimately, they’ll be good for $Archer Aviation (ACHR.US)$ as well ~;-)
nerdbull1669 OP Dan’l : thanks, will look into them.
GreatWarrior Dan’l : I'd invest in Anduril in a heartbeat if they were publicly traded or if I was an accredited investor.. for now I'm looking for some big boom boom candles from SMCI short-term. I'm still holding alot of PLTR, but short-term i have a decent amount in SMCI for some big gains, and I'll probably put the returns from that into AMD and maybe add some to PLTR since I expect to make a shit-ton off SMCI
Dan’l GreatWarrior : I’d avoided SMCI lately as a bit sketchy, yet still found myself on the wrong side of their last short squeeze. Had I foreseen their removal from the top 100? I’da taken the slighter loss and moved on, and now? Their servers appear to have been used to smuggle Nvidia chips into China, which is of no help to you ‘n me… all that said? $Super Micro Computer (SMCI.US)$ is cheap, as in underpriced, and overweight.
Dan’l nerdbull1669 OP : Sending something via private message.
GreatWarrior Dan’l : I don't remember the name of the company off the top of my head, and don't have time to look for it right now. but I'm pretty sure it's basically been concluded a Japanese company was smuggling the chips. it wasn't SMCI. I'm expecting another short squeeze. especially, with all the short interest right now
Dan’l GreatWarrior : It appears that serial numbers of some of SMCI’s Nvidia-based servers were duplicated, and even if they’re not involved? Their symbol will be in all the snippets related to smuggling chips.
Another squeeze would be great, but for that to happen? Those short selling have gotta be wrong… any healthy swing upwards might win my shares, and if I can get out even? I’m gone ~;-)