PLTR - Buyers incoming
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Stimulus incoming. Deutsche banks survey suggests millennials plan to invest about 50% of the next stimulus in stocks.
The millennials may go for companies they are aware of and love (aapl, msft, dis). But I believe, they may get curious about stocks like PLTR, STPK and others that have a lot of positive news behind them and are priced a lot cheaper than the big guys as $ per share. Would you buy 1 share of Amazon @ 3000, or a mix bag of growth, tech and green energy stocks for $3000?
I feel PLTR is a great pick for a swing trade in this situation (and I believe it's a great stock for a long term play too).
If weakness continues this week, we may see this stock at $18. Although, the market sentiment is gradually relaxing in my opinion.
My swing setup:
Entry $22.5 - 23.5
Profit target 1: $27
Profit target 2: $30
Stop loss: $17.5 ( add a stop loss only if you don't want to hold it long term. I personally see $18 as a very strong support)
My options / long term setup:
I have already sold puts on PLTR at the $27 strike price. Here's the trade if you want to take it today:
If you go for the $27 strike price, expiring in June, you will collect a premium of around 750$ (sell $27 puts). This means, if by June expiry PLTR is still below $27, you have to buy 100 shares of PLTR for a price of $19.5 per share (($27 X 100shares) - 750). If you get PLTR at that price -- congrats.
If the price of PLTR is above $27 in June, well, congrats again, you keep the $750 premium you received and can probably buy 25 odd shares of PLTR for that free money you collected.
Good luck traders!
The millennials may go for companies they are aware of and love (aapl, msft, dis). But I believe, they may get curious about stocks like PLTR, STPK and others that have a lot of positive news behind them and are priced a lot cheaper than the big guys as $ per share. Would you buy 1 share of Amazon @ 3000, or a mix bag of growth, tech and green energy stocks for $3000?
I feel PLTR is a great pick for a swing trade in this situation (and I believe it's a great stock for a long term play too).
If weakness continues this week, we may see this stock at $18. Although, the market sentiment is gradually relaxing in my opinion.
My swing setup:
Entry $22.5 - 23.5
Profit target 1: $27
Profit target 2: $30
Stop loss: $17.5 ( add a stop loss only if you don't want to hold it long term. I personally see $18 as a very strong support)
My options / long term setup:
I have already sold puts on PLTR at the $27 strike price. Here's the trade if you want to take it today:
If you go for the $27 strike price, expiring in June, you will collect a premium of around 750$ (sell $27 puts). This means, if by June expiry PLTR is still below $27, you have to buy 100 shares of PLTR for a price of $19.5 per share (($27 X 100shares) - 750). If you get PLTR at that price -- congrats.
If the price of PLTR is above $27 in June, well, congrats again, you keep the $750 premium you received and can probably buy 25 odd shares of PLTR for that free money you collected.
Good luck traders!
Nota
Note the $30 resistance is critical to break out of in the near term. If PLTR re tests that level but pulls back, it may possibly be forming a Head and Shoulder...Watching closely if this happens.
Penafian
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