What is up, everybody welcome to trace trades, where we got technical analysis on different stocks in the stock market, as well as potential buy, hold or sell opinions on these given stocks. I like the purpose by saying that i'm not a financial advisor nor expert. I understand man i'm doing on youtube, so take what i say with a grain of salt. The reason i started this channel is because a couple years back, i was about 30 000 deep in some pretty bad medical debt, and i was very fortunate to have some close family friends and mentors that pushed me to work really hard and invest my money, and I am happy to say that i am not financially free guys, so if you, if i could pass along any of the information resources or tools to you, guys change your lives even a little bit for the better, that's all a guy can ask for.

Lastly, if you wouldn't mind dropping a like on the video, it really does help support the channel and consider subscribing if you'd like to see more content like this, as i do post videos daily multiple times a day with that being said today, we're going to be Looking at ticker symbol, pltr palantir technologies incorporated i've been seeing quite a few videos on this stock, and it does seem very interesting to me. So i wanted to cover this in case. Any of you guys were interested in what this company is and where it may be heading. So i'm going to read off to you really quick what palantir is as a company.

So, let's read real quick palantir technologies offers a suite of software applications for integrating visualizing and analyzing information. Volunteer software allows analysts within and between government organizations to collaborate and to analyze large quantities of data, so they do seem to be an overall software applications, company allowing analysts within and between government organizations to collaborate and to analyze large quantities of data. The big thing that catches my eye here is between government organizations. That seems to be a pretty large piece of the puzzle here, because government has a lot of money.

Anything that's government funded is going to have ample amounts of income ample amounts of cash flow to pay out to whatever companies they are working with, and that could bear some absolutely filthy returns to people who are invested in the stock. So let's take a look at the macroscopic and microscopic view. I have a six month chart and a one day one minute chart pulled up for you guys so that i can appeal to both midterm to long term investors and possible day or swing traders. So if you look at palantir we're going to cover the volume here, the volume moving average, what that means we're going to be covering the overall trend of the stock, we're gon na be covering support levels, resistance levels and where i can see this heading a possible Price prediction and all that sorts of fun stuff.

So let's get right into the video we can see here that the volume has been seeing it an overall general increase, and that must mean there's an overall increase in interest and sentiment towards the stock. In a bullish viewpoint, we have been going on quite the quite the run here. You can see that we were at nine dollars about six months ago and we've seen a high of about 33.50. So if you were able to swing that that that trade you're looking at nearly 400 percent margin of return, which is absolutely filthy, if you did that congrats pat yourself on the back, i did not i i.

This was not on my radar up until just recently and i think a lot of people think this is going to continue its bullish run. However, if we look at the candlestick charts here, you can see that we are beginning a bearish trend. We have one two, three, four, five, six, seven different candlesticks to indicate this. We have broken below the volume moving average, so the bears are currently in control of the overall trading action and price action that is happening on this stock and to me it makes perfect sense, and let me tell you why palantir went from you know 10 dollars And 82 cents all the way up to 33.50 in a period of just under a month, and that is absolutely disgusting.

Filthy growth, that is uh that is gnarly like that's, that's, 300 return on your investment and when you run up 300 on a stock in less than a month, you know what's going to happen, you already know what i'm about to say. Price correction. Price correction is a trend you will always see in the market, especially with stocks that have run up way too much way too fast, and that is what i see happening right now with palantir. Now they did have about 10 to 12 days of consolidation, so it was possible that we can continue to see that trend up.

But when a consolidation phase happens, it can go two ways: it can go back up or it can go back down and right now based off of the candlesticks. We do seem to be going back down now. I have not looked into the public relations. Any news, catalysts or positive catalysts that could be coming out soon on the stock.

This is purely from a technical standpoint. It does appear that we are going to be retesting some prior levels of support on the stock, as we are on a current bearish trend, but keep in mind also the six month trend is bullish, so it does appear that we are going to continue overall growth. However, not in this given moment, i do think we're going to have a week two weeks, three weeks of possible price correction, retesting some support levels, so i have them labeled for you here we do have 2124, which was a prior level of resistance that is going To be an acting level of support now, so it will be interesting to see if palantir is able to test this 2124 level bounce off it and continue back up towards re-testing a prior level of resistance at 31.32. We shall see if that happens, or not be watching for that.

If you do see it bounce off of 2124 and a trend back up, it is possible that we re-test either this consolidation phase or 3132 is a prior level of resistance. If we do break through 2124, that is going to be some uncharted territory, because there's not a lot of price action that happened between these two price ranges. We did have about five days of consolidation here, so you could argue that we have a support level that could test out right here at this price range of about you know, fourteen dollars, and that we'll just call it fourteen dollars at fourteen dollars as a possible Level of support, but still that is a very large gap that would be filled that would need to be filled if the stock does drop below this level of support at 21.24. So do keep that in the back of your mind, if you are trading this stock at the given moment, it is possible that we see a re-test of those support levels.

The trend is currently bearish and, if you're looking to get an entry into the stock, this is a great opportunity. If you're holding the stock long term. You know it might not look great in the portfolio to see the overall downward trend. But if you do not have a position in the stock, this is a perfect opportunity for you to observe and see if you should get a position in the stock if we retest 2124 and you see it bounce back up, that is going to be a great Point in which to get into this stock somewhere between 21 24 22 even 23 dollars, you're gon na be able to see you know eight to nine to ten dollars return on your investment if we're able to get back up to this resistance level of 3132, and If we can break through that resistance level, which inevitably will happen eventually as long as good things, keep happening with palantir you'll be you'll, be seeing a pretty solid, mid to long term return on your stock investment.

So those are the numbers that i want you to watch for, if you're interested in getting an entry into this stock. If you are currently holding the position, i would consider adding to your position. You know at this support level if we do drop below. That.

Definitely add more in this 14 to 21 24 range, as that is going to allow you to increase your position in the stock. If you have the dollar cost average up, that's okay, because at the end of the day, you're still going to be making more money. It might not look as perfect on the on the portfolio. You know your margin of return will be lower, but you will be returning more money overall, and that is what matters so that is the macroscopic view on palantir.

Now, let's look at the microscopic view. If you are a day or swing trader, i have a couple of levels written out for you, and the price action is a little bit um hazy. To be honest, these aren't great up and down candlestick patterns that we usually look for as day or swing traders. So i would recommend first off going to a different stock if you are looking to swing or day trade just based off of what i'm seeing here.

It is a little bit unclear and we like to make investing as clear-cut and easy to decipher as possible, but based off of what we have here. If you are going to dare to swing trade, the stock, we do have resistance, as i was support levels at 2351 and 23.65. So, if you're looking to go along on this stock, i would look for both of those points as potential entry points look to see. If we have a bounce off of either of those to the upward trend line um, if we do, you know we, we, we will be retesting 23.88 as a first level of resistance and then 2460..

So i would look for 23.88. If we push through that, which is very possible, 2460 would be a great point in which to watch for an exit on your day or swing trade and the opposite side. If you're, looking to short the stock, see if we come up to test this 2460 resistance level and if you see it bounce back down, that is a great way to look for this 2388 mark on which to exit, because that is a very solid margin of Return, if you have you know a fair share of stocks that you have invested in your dairy swing trade. You can get a pretty solid return on that or you could be watching for a potential breakout.

This 2460 level is an acting level resistance. If we approach it and you see a candlestick push up 10 20 25 cents above, it's very likely we'll see a breakout on the stock. And if we do go about 2460, you know you could be seeing 25 26. You know 26 and a half dollars that same day, which would be a very nice return on a day or swing trading investment.

Now, if you're looking for volume or volume moving average watch to see that we continue this overall trend that we've been seeing on the volume action you know, you're looking for anywhere between 39 million and probably 80 million shares traded per day, that'll be a good indicator That we're continuing the same volatility and the same volume action that we've been seeing in the past, and you should see very similar price action, follow as price action very closely mirrors the amount of volume that is being traded on the stock. That is what i have for palantir technologies today, please, like the video. If you enjoyed it, it really does help support the channel and consider subscribing if you'd like to see more content like this, as i do post videos daily multiple times a day. And lastly, i have an affiliate link in the description box down below to tubebuddy.

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I'm happy that you took the time to watch the video, and that is all that i have for you all today. So with that being said, i hope you enjoyed the video and i will see you all next time. Peace.