Dave Barnhart analyzes Palantir after a $1.36B dark pool trade, mapping bullish targets above $146.50 toward the mid-150s and bearish support down to the low 130s based on volume and EMA levels.
Chapters
Palantir, well, it blew up after earnings report yesterday at the close. So you can see here we're already up $20, we're already almost 3 times the ATR on the day. So you can see this nice juicy daily candle here, look at all these prints, 1 million. Anyway, the institutions are down here about $120 and we're at $145, so you have a million shares at $120, you're doing quite well. All right, let's go ahead and map this out on the intraday since we've blown above all these prints here. We're going to be bullish above $146 50. We've— you see we're above this R5 already, so it's just sky's limit. 146.50, 147.50, 150, 151.25, 152.50, 155, and I put 156.25. That's actually giving us a 10-point move above this anyway, and so that's another full almost 1.5 ATRs. So we're going to be bearish below 144. Let's get down here, break below this. We've got this shelf here, so if we break below that, 144, 143. Three, one forty two fifty, one forty thirty eight sixty six is R five, one thirty six forty seven, one thirty five thirty five and one thirty two oh four all the way down here to R three. So if we do break down, just follow it level to level. This is nice how the four and the eight exponential moving averages running together. So if that's happening, it's very careful shorting it on the downside. You want to see this cross over and run together for the momentum strength.
