Hi all,
I just wanted to share a strategy I’ve been following with PLTR lately, just so you can tell me what you think about it, what you would’ve done, or even learn about my ideas.
I bought PLTR in July, 100 shares around $127 ($12.7k), just before the earnings. It was between 5-10% of my portfolio in that moment.
Stocks like AMZN also behaved well after earnings, but spent the following weeks falling just to fill the gaps it left around $248 (even if I kind of saw a cup with handle, the movement didn’t continue reaching higher highs) . However, PLTR began to develop what I saw as a bull flag. At this point, around $170 it clearly began shaping a strong support, from which it could continue going up.
This week, it flirted with all time highs, battling with the $200 resistance. I sold 50% at around that price. This morning, pre market, I noticed it was breaking the resistance with abnormally high volume, which led me to thing it could go even higher, but I just let it go with my $10k.
So… Would you have bought more after the break out? You would have had technical reasons to do so but, fundamentally, the stock is again priced for perfection. I guess I will sell my full position if it reaches $220 (ATH) or $230 (new projection from Goldman that lit up the stock this week).
Thanks for your insights!