Palantir ($PLTR) is now up 22% since we gave readers a pre-earnings bullish setup.
The stock is also up 50% since its late July low. Readers will now see that the stock is consolidating while building a sideways to slightly higher trajectory after its post-earnings run. The stock has left its 200-day SMA in the dust, forcing professional managers to increase exposure. In addition, relative strength is quite robust but not severely overbought technically. On top of that, the daily MACD is set up about as bullishly as it could be with all three components singing the same song. My $205 target price stands for now.
Stephen "Sarge" Guilfoyle is the founder and President of Sarge986 LLC, a family run trading operation. An NYSE floor trader for over 30 years, Guilfoyle has served as the Chief Market Economist for Stuart Frankel & Co., the U.S. Economist for Meridian Equity Partners, and as a Vice President in Block Trading and Investment Banking with Credit Suisse over the years. Guilfoyle earned his nickname “Sarge” while serving as an actual sergeant in reserve components of the U.S. Marine Corps, and U.S. Army while simultaneously working on Wall Street.
He self-identifies as a day trader, long-term investor, and anything in between. He believes in removing the emotion out of the decision-making process and trusting the data. Look to Guilfoyle to prepare you for the trading day with his popular early morning Market Recon newsletter on TheStreet Pro, which provides a mix of fundamentals, technical analysis, economic commentary and trading ideas.
