Palantir Hold Recommendation with Technical Levels

3 months ago

"So, first of all, Palanteer, I was pretty much saying that this is going to, you know, be an overvalued stock because it continues to go up. But I'm bullish on it long term, but in the short term, man, there's going to be some volatility. And that's exactly what we're seeing right now. We've had a pullback from basically $200 per share. And Palanteer was doing very well, $27 per share. Now, we have a pullback. What I personally think is going to happen with Palunteer in the short term is we're probably going to retrace back to this level right here. Maybe not 175, but $180 level. Okay, $10 more dollars of downside and then we might resume back into an uptrend. And that's pretty normal of the market. For me, Palanteer is just a hold right now."

The speaker explains that although Palanteer (PLTR) is overvalued due to continued upward movement, he is bullish long-term while expecting short-term volatility with a potential retracement to around $180. He ultimately suggests a hold position.

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