From SIA Charts
1/ Palantir Technologies Inc. (PLTR)
2/ Index Report
3/ Point and Figure Chart
Investopedia is partnering with CMT Association on this newsletter. The contents of this newsletter are for informational and educational purposes only, however, and do not constitute investing advice. The guest authors, which may sell research to investors, and may trade or hold positions in securities mentioned herein do not represent the views of CMT Association or Investopedia. Please consult a financial advisor for investment recommendations and services.
1/
Palantir Technologies Inc. (PLTR)
Palantir Technologies Inc. (PLTR), headquartered in Denver, Colorado, specializes in big data analytics software. Founded in 2003 by Peter Thiel, Stephen Cohen, Joe Lonsdale, and Alex Karp, the company’s name is inspired by The Lord of the Rings, where “palantíri” are magical, all-seeing stones used for communication and observing distant events. Palantir’s Foundry software is used by intelligence agencies, the U.S. Department of Defense, and humanitarian organizations. It has broad applications, including counter-terrorism, human trafficking investigations, disaster response, insider trading cases, public health tracking, and intellectual property protection. As Foundry is increasingly adopted by civilian operators and corporations, it is enhancing logistics, HR, finance, and planning. Users report significant productivity improvements, and some predict that Foundry could become as ubiquitous as Windows. When asked whether Foundry will replace human jobs, Alex Karp responded that for those using the software, their jobs will be more secure than ever, while those who don’t adapt may struggle to compete. He further noted that Foundry effectively turns every employee into a “PhD.”
Courtesy of SIA Charts
2/
Index Report
We are highlighting PLTR shares due to their outstanding performance in the SIA reports, where they rank among the top 2 positions (see attached clipping). The SIA S&P 500 Index Report places PLTR in the second position, with a 1-month return of 27.79%, a 1-quarter return of 112.25%, and a year-to-date (YTD) gain of 197.97%. For non-subscribers to the SIA platform, we’ve included a sneak peek of this valuable report, which highlights top performers across various timeframes, outperforming major indices.
Courtesy of SIA Charts
3/
Point and Figure Chart
Turning to the point-and-figure chart of PLTR, we see a stock that has experienced significant volatility since going public in 2020. After debuting at $10, the stock surged to $38, then dropped to as low as $6 before consolidating through 2022 and 2023. However, as management promised, the company delivered results, and the share price has responded positively. From the SIA perspective, PLTR entered the Favored zone of the SIA Russell 1000 Index Report in the summer of 2023 and has remained there, with only minor rotations. The stock is now trading above $50, with support levels at $41.13, $38.76, and $28.80. Resistance can be extrapolated at $59.92 and $62.34, based on vertical counts from prior point-and-figure formations. All of this is against the backdrop of a perfect SMAX score of 10/10, further reinforcing PLTR’s outperformance relative to other asset classes on top of the SIA Russell 1000 Index Report. Much like Palantir, at SIA, we believe in augmenting human intelligence, not replacing it. The SIA Ai platform analyzes data from over 80,000 investments daily, comparing them in multiple ways to identify top performers. This dynamic approach helps advisors and portfolio managers stay ahead of market changes. By focusing on the best-performing asset classes and positions, SIA subscribers consistently stay on top of market trends. SIA Account Managers collaborate closely with elite advisory teams to deploy our software, integrate their data, and optimize workflows for immediate impact. Advisors, if you’re ready to take your portfolio management to the next level, contact us today to learn how the SIA platform can drive better outcomes for your clients. Call us at 1-877-668-1332 or visit https://www.siacharts.com/request-a-demo/ to schedule a personalized consultation.
Courtesy of SIA Charts
—
Originally posted 7th November 2024
Disclosure: Investopedia
Investopedia.com: The comments, opinions and analyses expressed herein are for informational purposes only and should not be considered individual investment advice or recommendations to invest in any security or to adopt any investment strategy. While we believe the information provided herein is reliable, we do not warrant its accuracy or completeness. The views and strategies described on our content may not be suitable for all investors. Because market and economic conditions are subject to rapid change, all comments, opinions and analyses contained within our content are rendered as of the date of the posting and may change without notice. The material is not intended as a complete analysis of every material fact regarding any country, region, market, industry, investment or strategy. This information is intended for US residents only.
Disclosure: Interactive Brokers
Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.
This material is from Investopedia and is being posted with its permission. The views expressed in this material are solely those of the author and/or Investopedia and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
