Palantir Technologies Inc-A (NASDAQ:PLTR) – A Minervini Trend Template Candidate
By Mill Chart
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Palantir Technologies Inc-A (NASDAQ:PLTR) has shown strong momentum, making it a potential candidate for traders following Mark Minervini’s Trend Template. The strategy focuses on identifying stocks with powerful uptrends, strong fundamentals, and relative strength.
Why Palantir Fits the Minervini Criteria
Minervini’s approach emphasizes stocks in a clear uptrend with accelerating earnings and revenue growth. PLTR meets several key technical and fundamental conditions:
Technical Strength
- Price Above Key Moving Averages: PLTR is trading above its 50-day ($91.06), 150-day ($74.46), and 200-day ($63.52) moving averages, confirming a bullish trend.
- Strong Relative Strength: With a ChartMill Relative Strength (CRS) of 99.55, PLTR outperforms nearly all stocks in the market.
- Near 52-Week High: The stock is trading at $118.44, close to its 52-week high of $125.41, indicating strong momentum.
Fundamental Growth
- Earnings Growth: EPS grew 64% year-over-year (TTM), with quarterly growth accelerating to 75% in the most recent quarter.
- Revenue Growth: Revenue increased 28.8% (TTM), with the latest quarter showing 36% growth.
- Positive Revisions: Analysts have raised next-year EPS estimates by 17.9% over the past three months.
ChartMill Technical Report Summary
The technical analysis report assigns PLTR a perfect 10/10 technical rating, citing:
- Strong short-term and long-term uptrends.
- Outperformance against both the broader market and its industry (Software).
- High liquidity with an average daily volume of 114.7 million shares.
However, the report notes that while the stock is technically strong, it currently lacks a high-quality setup due to recent volatility. Traders may want to wait for a consolidation before considering an entry.
Final Thoughts
Palantir (NASDAQ:PLTR) aligns with Minervini’s criteria for high-growth momentum stocks. Its strong earnings, revenue acceleration, and technical strength make it a stock worth monitoring.
For more detailed analysis, review the full technical report here.
