![]() PLTRs average trading volume is quite high, trading at an average of 32 million shares per day. A boost that could help improve their balance sheet and move the stock to a higher price. ![]() Palantir’s defense contracts with the US government-worth $229 million-were recently extended by the defense department. The company has also become a strategic partner to the United States government-arguably one of the best clients to have on your roster. Thus allowing the bulls to come back in and drive the stock upwards.īut technicals are not the only thing PLTR has going for it. If the tight grip continues, bears could get exhausted. The sell-off has slowed down as the stock attempts to hold tight to its current price area, which is right below its IPO valuation. The company has been on a downtrend ever since and now it finds itself nearly 82% from its top.īut things could turn around for Palatir, benefiting investors that look to employ a wheel options strategy on this ticker. However, a blow-off top quickly brought the upward momentum to a halt. Delivering nearly 400% back in returns for shareholders in the short period after its IPO. Shares of the company printed an all-time high of nearly $45 back in January 2021. PLTR is among the best stock to buy for the wheel strategy. The company’s platforms help businesses make decisions while offering multi-layered security, interoperability, and data privacy. The tech firm was co-founded by Peter Thiel, Nathan Gettings, Joe Lonsdale, Stephen Cohen, and Alex Karp in 2003. Palantir is a company that specializes in big data analytics. However, the spread between the bid and the ask in the options chain is wider than other liquid stocks. That along with a tight bid to ask could also make NOK an excellent candidate for the strategy. The stock’s daily average trade volume is also high, indicating a high trading interest from investors. Making it easy for investors to get in and out of the stock at a fair market price. But NOK’s share price recently poked out of a downward trendline that connects it to its 2000s all-time high.Īs it frees itself from the technical downward pressure of the trendline, it’s possible that bulls could regain interest in the stock-possibly benefiting wheel strategy investors. Nokia’s chart paints a fascinating story, the stock has been trading in a range since 2012. This is a trend that could benefit investors seeking to employ the wheel strategy. ![]() The expansion of 5G networks globally is still in its early stages, which could help the company see further growth in the near future.
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