• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • About Us
  • Contact Us
  • Our Google News Channel
IRA vs 401k

IRA vs 401k

Retirement Options

  • Home
  • Roth IRA
  • Roth 401k
  • SEP IRA
  • Simple IRA
  • 401K
  • Finanace
You are here: Home / Finanace / Is Palantir Stock Set to Break Out and Retest Highs?

Is Palantir Stock Set to Break Out and Retest Highs?

January 15, 2021 by Retirement

Palantir  (PLTR) – Get Report continues to give investors hope on the long side. However, the stock is having trouble committing to the breakout.

Twice this week we’ve seen big upside rallies. However, those rallies have been short-lived as shares get sold from highs.

Earlier this week, Palantir was trading well, up four days in a row, before being downgraded to a sell rating by analysts at Citigroup on Wednesday. 

The stock opened lower that day, before rallying almost 5% and breaking out. Those gains didn’t hold until the close though, with Palantir ultimately closing lower by 2.6%.

In other words, a failed breakout. 

Then on Friday, shares caught another lift. This time it’s on news that Cathie Wood’s ARK Next Generation Internet ETF scooped up almost half a million shares. 

Woods’ funds have nailed other stocks, such as Tesla  (TSLA) – Get Report and Roku  (ROKU) – Get Report and even sent Virgin Galactic  (SPCE) – Get Report surging earlier this week on news it intends to launch a space exploration ETF.

While the stock is up about 7%, Palantir did rally as much as 12.3% at Friday’s high. What now?

Trading Palantir

Daily chart of Palantir stock.

Chart courtesy of TrendSpider.com

From the chart, you’ll notice what I mean by “the stock is having trouble committing to the breakout.”

Wedge resistance (blue line) has kept a lid on the stock, while wedge support has continued to buoy it.

Most recently, support came into play on Thursday as Palantir was reeling from Wednesday’s failed breakout over resistance.

Friday’s action is encouraging, but the stock certainly isn’t out of the woods. On the plus side, shares are back above the 10-day and 21-day moving averages. Additionally, it’s over downtrend resistance, at least for now.

Palantir looked so promising this morning when it was clearing this week’s high and its VWAP measure at $26.50. Now below both measures, bulls need to show commitment to the upside or risk a move back below resistance.

If Palantir stock can hold up over $26.50 and clear $27.50, then Friday’s high at $28 could be back in play, followed by a potential move up toward the $29 to $29.50 area.

Above that zone puts the December high in play at $31.24, followed by the all-time high up at $33.50.

On the downside, bulls do not want to see Palantir lose last week’s low at $24.31. 

Filed Under: Finanace

Primary Sidebar

E-mail Newsletter

More to See

Maximizing Your Retirement Savings: Expert Insights on IRAs and 401(k)s

November 23, 2024 By Roth

IRA vs 401(k): Key Differences to Help You Choose the Best Retirement Plan for 2024

November 21, 2024 By Roth

Real Estate Syndication in Indianapolis: Unlocking Investment Potential

November 15, 2024 By Retirement

Maximizing Your 401k at 55 | Retirement Strategies for Growth

October 15, 2024 By Roth

401(k) savings

Retirement Savings Options: Navigating the Path to a Secure Future

August 15, 2024 By SEO Robot

Retirement Planning

August 13, 2024 By Roth

Infographic comparing IRA vs 401(k) retirement options.

IRA and 401(k): Compare Your Retirement Options

May 20, 2024 By SEO Robot

Tags

401(k) 401(k) advantages 401(k) insights 401k at 55 401k growth strategies best retirement plan catch-up contributions exclusive listings Financial Planning financial planning 2024 Financial Security future planning Indianapolis property market Investing Investment Investment Options Investment Strategies IRA IRA benefits IRA strategies IRA vs 401k Labrosse Real Estate luxury homes luxury real estate maximize retirement savings multi-family investment Indianapolis passive income through real estate Personal Finance premium properties property syndication real estate investment real estate syndication Indianapolis Retirement retirement advice retirement investment Retirement Planning retirement planning 2024 Retirement Savings retirement savings tips retirement strategies retirement tips Savings secure retirement secure retirement funds Wealth Management

Footer

  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms of Use
  • Google News

Recent

  • Roth IRA Contribution and Income Limits for 2025
  • Maximizing Your Retirement Savings: Expert Insights on IRAs and 401(k)s
  • IRA vs 401(k): Key Differences to Help You Choose the Best Retirement Plan for 2024
  • Real Estate Syndication in Indianapolis: Unlocking Investment Potential
  • Maximizing Your 401k at 55 | Retirement Strategies for Growth