Palantir Technologies Inc (PLTR)

[Triple_Star]

I am a long, though I do have a smaller position. I am not swing or day trading this until it finishes this correction.

I will ride out this ...well whatever this is being called. This stock is not following rules! It did not on its run that started 2 weeks ago, and it is not right now. I believe Citron was effective in creating panic and would love to see their (his) position in PLTR right now. Though because of the few days before it hit $34 very fast from momentum and fear, once the short started those same buyers used the same emotion in a 180 to sell.

I do feel Soros media attention played into this shorting as well. With almost 2% ownership and his campaign of "Down with Palantir, I'm selling!", I would think his following would get the message and create a movement based on their vastly opposing political positions.

The stock movement on the chart 5 Nov to 23 Nov was understandable in a company gaining traction. 23 Nov to 25 was driven by momentum to climb how fast it did. 25 Nov to 27 Nov was everyone jumping onboard because that is all they saw in the news feed. It shouldn't have gotten that high without correction, but the buying volume drove it.

I see a gap after hours to premarket opening 20 Nov AH $18.30 and the lowest it went to on 21 Nov was $18.32 (white line on my chart). Not meaning this will head that far to fill that gap, just mentioning that it is there.

The fundamentals of this company are intact, it is well-established and has proven itself. There was sizeable institutional buying that made sense in support the company's future.

I do feel bad for those that bought last Friday and watched this train without brakes come down then hill.

I added a 20-day 30-minute chart with how I have viewed this stock. Sorry you cannot see the candles from all of my charting lines. The boxes in purple along with the titles in yellow are my own notes.

I am confident in the long term, I feel it will correct soon, though cannot say how long or slow that process will take. I'm watching the $22.50 area as a support. And while I am typing, that is very close as Mark is $22.80.