Palantir (PLTR)

Feb 19, 2021Trade Ideas

Just days after a lockup expiration sent shares of Palantir (PLTR) lower, the stock appears to have bottomed out around $28. From here, we’d like to see a near-term test of $37.50. It’s also become oversold on RSI, MACD, and Williams’ %R.

Helping, Cathie Wood’s Ark Invest just bought over 6.8 million shares of the stock on the dip, too. According to Business Insider, Wood was happy with PLTR CEO’s focus on spending for growing, calling it a “refreshing attitude.”

However, she’s not the only one bullish on the stock. Goldman Sachs just upgraded the stock to a buy rating with a near-term price target of $34. They pointed to “Palantir’s path to ‘sustainable growth’, predictable and growing government revenues, and margin expansion as their reasoning for the move,” as also noted by Business Insider.

With PLTR, investors can buy the PLTR stock at market, and, or buy to open the PLTR April 16, 2021 30 calls at market prices.

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