PLTR’s Post-Earnings Surge: Strategic Moves Tomorrow Trading

Palantir Technologies (PLTR) experienced a notable rally after market hours on November 4, 2024, largely due to a strong earnings report. The company exceeded market expectations by posting an earnings per share (EPS) of $0.10, surpassing the consensus estimate of $0.09. Additionally, Palantir reported a revenue increase of 30% year-over-year, reaching $725.52 million, above the projected $705.11 million. These positive financials indicate strong growth in Palantir’s business, driven by increasing demand for its AI and data analytics solutions, and have contributed to renewed investor confidence.

For tomorrow’s trading session, key price levels can help guide potential entry and exit points. As seen in your chart, Palantir surged to around the $47 mark in after-hours trading. For an intraday play, if it holds above $45, that can serve as a short-term support, with potential resistance around $50 if upward momentum continues. Breaking above $50 could signal further gains, while falling below $45 may indicate a pullback toward $43.

Suggested Entries and Exits:
Bullish Entry: Consider entering near the $45 support level, targeting a move toward $48-$50. A confirmed breakout above $50 could present a stronger bullish entry.

Bearish Play: If PLTR fails to maintain above $45, a short entry may be feasible, targeting the $43 level as a near-term exit.

Disclaimer
This analysis is for educational purposes only and should not be construed as financial advice. Please conduct your own research and consider consulting with a financial advisor before making any trading decisions.