$Palantir (PLTR.US)$ on a weekly chart basis 26.19 is going ...
$Palantir(PLTR.US$ on a weekly chart basis 26.19 is going to represent some resistance. that would be the upper level on the Bollinger band it can go through it but typically breakouts where they exceed the upper moving average or short-lived because 90% of all of the trading activity occurs between the three moving averages. it doesn't always work that way sometimes a breakout is exactly that so let's keep our fingers crossed that that threshold is nothing but a number because it happens all the time with Nvidia right now and other stocks that become momentum place
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35+ yrs in the trenches, raised tens of millions for start ups, syndicate ipo's, yrs on trading desk mkt maker.
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Master Corgi : I’m sure it will come down abit before going higher
djmiller Master Corgi: I sure hope it does lol. I should not have told the market gods that I sold covered calls lol. At least I have a month for the volatility to hopefully bring us back down to earth in the short term. If not, oh well I will just sell some cash secured puts
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Master Corgi djmiller: It will but only higher lows
djmiller Master Corgi: I’m here for that! ;) makes sense considering the technical uptrend. Nice to see palantir break its usual pattern of bull flagging from earnings to earnings. The market may have outsmarted me this time but I don’t lose money as long as I don’t flinch and subsequently buy to close the short calls ;). I’m long term bullish on the stock for sure!
Master Corgi djmiller: Been saying here previously when it was low 20s to keep buying already. Now the breakout has started.
Shogun80 djmiller: I’m in the same situation as you..