Technical Analysis on Palantir Technologies Inc (PLTR)Palantir ( PLTR ) is currently in a short-term bullish phase, as indicated by the green trendline, which began in May 2023 with the breakout of the descending trendline (orange) accompanied by a gap up and increasing volume.
The stock has recently broken above the resistance zone R1, which it is currently retesting.
Bullish Scenario:
A short-term bullish scenario would see a move toward the next resistance level R2 in the $38-$40 area.
Bearish Scenario:
If the retest of resistance R1 fails, the stock could move towards the support areas, where potential entries could be considered if one anticipates a rebound:
The POC area around $24;
The weekly support S1;
The weekly support S2.
The support zones S2 and S1 are more clearly visible on a monthly timeframe:
Volumeprofilebreakout
WM Waste Management ( Garbage Collector / Recycler ) LONGWM on a 180 minute chart shows a trend up since the October earnings. The January earnings
substantially beat the earnings from the October report and the uptrend accelerated. The chart
shows both VWAP band and volume profile breakouts persisting over 5 months. I have added to
my long-term position in WM with call options for January 2026 striking $200. These have
expensive premiums but I believe there is high value showing on the chart. I have taken partial
significant profits from the $190 calls for January 2025 and am rolling the remaining a year
forward. I will also buy a lot of shares now and hold them for about 4 weeks closing out most
of the position a few days before earnings and hold the remainder through the earnings.
Profits will be used to buy another call option.
GE has a solid ongoing trend higher LONGGE on a 240 minute chart shows an anchored VWAP and volume profile both anchored back into
October and a price action breakout beginning after the November earnings report and
sustained through the early February earnings report. Both reports showed significant beats
on earnings as well as good beats on revenue. I see GE as a solid long term long swing trade
into at least the next earnings in about ten weeks. Another approach aside investing is
a long term call option more than one year out to capture the tax advantage of the long- term
capital gains tax rate. I will zoom into a 30 minute time frame and go long with the best
entry of a pivot low.
GRPN on a one month breakout LONGThis is to follow up my previous idea on Groupon. On the 2H chart, price is in a one month
sustained breakout from the volume profile and into the upper VWAP band lines both anchored
for end of 2023. The faster green RSI line crossed the 50 about the same time and basically
has not looked down. The slower RSI line has slowly risen from 55 to 65. This is in the consumer
discretionary sector and hot necessarily hinged to technology stocks. I see this as rock-solid
as it gets. I will load more shares now and also load more ona dip There was a big earnings
miss in November and then Goldman Sachs raised its target from 5 to 7.5 which seems like
a big adjustment after an earnings miss. I suppose GS knows their stuff.
CHEF rises in price and volume for earnings LONGChef's Warehouse reports in two days. This is a slow grind it out type of stock. In the past week
volume spiking is seen on the indicator with the blue bars pointing out aberrancies in volume
otherwise called spikes. On the volume profile, CHEF fell down and out of the high volume
area of the profile for much of February but on Thursday the 8th re-entered it and pass through
it and breaking above it all in the same day. This is a rather explosive reversal pattern.
Price has maintain itself above the area in the past two trading session. The past week saw
more than a 6% rise for CHEF. This trade is best suited for investors, patient swing traders
or those trading options. This is not an intraday stock trade.
Groupon is pushing into earnings LONGGRPN on the 15 minute chart here with a volume profile overlaid hada high volume area
breakout from mid December to mid January but then retraced and broke down. It
consolidated for one week about the POC line gained some accumulation and then moved
back up again. It broke above the high volume area on January 25th then retested it with
a light touch on Feb 5th getting support in the rejection. The relative volume has picked
up consistent with Wychoff theory ( this is not a fakeout). I see this as an excellent long
trade through the upcomng earnings. The dual time frame RSI indicator can be useful to
gauge strength minute by minute and so pinpoint entries and exits.
HE - get it long before the sparks flyHE is obviously an underdog given what happened in Maui and the aftermath of the disaster.
It has that baggage and the ankle weights of litigation public perceptions, electical power
infrastructure and all the rest. Seemingly it is weathering the storm.
The 15 minute chart shows a ranging price action really going no where until last Friday when
volatility struck from a surge of volume. Price jumped out of the high volume area and volume
has persisted and so the high volume area widened. The fast RSI in green moved in quick
momentum as compared with the slower RSI in red. This is a golden cross of the lines showing
a surge of strength. I will take this long. The earnings announce BMO. The make the past
possible trade it must be done in the premarket and without a stop loss since my broker does
not offer them in the premarket. An options trade will be after earnings depending on what is
reported. This is a risky trade so the position will be small relative to buying power.
Potential bull flag on ASX futures (SPI 200)The ASX 200 cash market rose for a second day, although the SPI 200 futures closed flat with a potential bullish pinbar on the daily chart. The 1-hour chart also shows a potential bull flag, which projects a target around 7640 (or the Feb 2nd overnight VPOC - volume point of control).
For today, bulls could seek pullbacks towards 7580 - 7587 (overnight VPOC) in anticipation of a break higher. Or wait for the break to enter long.
Upside targets include 7600, 7614 (cycle high), and 7640 / 100% projection.
UROY Swing Trade Recap Volume Profile Analysis LONGUROY on a 15-minute chart with the volume profile and the EMA cloud as the indicators
demonstrates a one-week-long swing trade. Both stock shares and inexpensive call contracts
were traded. The stock trade profit was 30% over five trading days ( MLK Holiday ignored).
Options dramatically more profit for the expiration of 1/19th. The analysis, setup and
trade management occupied about 5 minutes per day as assisted by typical alerts and
notifications on the indicators as per TV.
The options contracts were closed as they were expiring later that Friday afternoon. The stock
position could have continued over a closed market weekend but I opted to close the
the entire position of stock simultaneously with the options.
This idea demonstrates the utility of the volume profile in this case applied to a penny stock
the hot uranium subsector within the energy sector at large. See also my other ideas on UROY
and also UEC.
The profits here will be used to take another long call option for UROY striking $ 5.00
for January 2025 sith some change left over for the next re-entry.
