Palantir Technologies Inc (NYSE: PLTR) is past the point of control from a technical standpoint, host Neil Hamilton said Wednesday on Benzinga's YouTube show "Get Technical."
When the stock passed the point of control, "it became a buy for me," Hamilton said.
Related Link: Palantir's Stock May Have Just Broken Out Of Old Bearish Pattern
Hamilton charted the "point of control" using a volume profile Tuesday on "Get Technical."
The volume profile shows the area of control, which Hamilton said is where most of the buying and selling occurs.
Hamilton was looking for a session close above that point on higher than average volume, as seen on the Palantir chart at the close Tuesday.
Palantir has a great story and "it's a great long-term holding," Hamilton said.
Palantir Events: Palantir is holding the first in a series of "Double Click" events Wednesday at 11 a.m. ET, in which the company will showcase its "Foundry" product.
See also: Is Now The Time To Buy Stock In Palantir, Tesla, Nio, Ford Or GM?
PLTR Price Action: Palantir was down 2.75% to $24.72 at last check Wednesday.
Photo courtesy of Palantir.
See more from Benzinga
- Click here for options trades from Benzinga
- Palantir's Joe Lonsdale Responds To PayPal's Peter Thiel's Comments On Bitcoin: Says Bitcoin Is A 'Force For Freedom'
- Why Tim Quast Likes CCIV, Eaton, Disney, Palantir Stock
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
精彩评论