The Long Investor

$PLTR TOP 20

Added 2024-02-06 10:30:32 +0000 UTC

The market reacted positive to the earnings and jumped almost 20% after the report and earnings call.

Lets be honest, the report was flat with the EPS hitting estimates and Revenue just ahead of estimates....does that deserve a 20% jump?....this is what happens with $PLTR and $SOFI because retail investors jump on this post earnings

The market enjoyed the year end guidance, a 70% jump in commercial travelled well

After the previous earnings, $PLTR did the same, it rose from $14 to $21 which is an impressive jump but it was Wave 5 so a pull back was needed and that is what we got.

The pull back next will be vitally important, a higher low next and Wave 3 is confirmed.

It did hold above the 200 Day MA and the 0.38.....it was a shallow pull back but it was a confluence level with the 200 Day MA, so Wave 2 could be complete now....it is only confirmed on the pull back now.

A pull back to a higher low now and I will add.....I wanted to be impressed by the earnings to buy but I wasn't blown away and the updated PE is 185 and FWD PE is 44 now

This is not an undervalued stock but still has plenty of growth ahead.

I will be interested to see what the analysts have to say about $PLTR today

Either way I can not fault our chart.