Could Palantir shares surge 60% to its post-IPO high?

September 21, 2021 23:43

The market had high hopes for big data analytics software company Palantir, co-founded by Peter Thiel who was also the co-founder of PayPal.  

The stock price surged more than 400% from the date of its IPO in September 2020 to its all-time high price level recorded at the beginning of this year.  

Palantir stock is now down 40% from its all-time high price level of around ~$45.00.  

As the majority of Wall Street analysts are bearish on the stock it has caught the attention of ‘meme stock’ traders who like to try and short squeeze the larger institutions.  

The daily chart below of Palantir’s share price shows an ascending triangle chart pattern has formed, as highlighted by the black ascending line and small horizontal line. 

Source: Admirals MetaTrader 5, #PLTR, Daily - Data range: from 30 Sep 2020 to 21 Sep 2021, performed on 21 Sep 2021 at 8:30 pm GMT. Please note: Past performance is not a reliable indicator of future results. Last five-year data not available.  

This chart pattern is typically seen as a bullish chart pattern where traders would expect the price to break through the top of the pattern, due to the pressure building from the buyers and the higher low cycles.  

While Palantir’s stock price has broken through, the price hasn’t run away higher just yet. However, if it catches the attention of ‘meme stock’ traders then a hold above the top of the pattern around ~$27.30 could see a move to its post-IPO all-time high price level of around ~$45.00.  

This would represent a more than 60% surge higher, so it’s certainly one to watch! 

Did you know that you can find real-time, actionable trading ideas on this index and thousands of other markets from the Trading Central Technical Insight Lookup indicator in the Premium Analytics section of the Admirals Client portal area?   

Open an account and use the indicator today to help you master the markets! 


The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the websites of Admirals’ investment firms operating under the Admirals trademark (hereinafter “Admirals”) Before making any investment decisions please pay close attention to the following: 

  • This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.  
  • Any investment decision is made by each client alone whereas Admirals shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.  
  • With a view to protecting the interests of our clients and the objectivity of the Analysis, Admirals has established relevant internal procedures for the prevention and management of conflicts of interest.  
  • The Analysis is prepared by an independent analyst, Jitan Solanki (analyst), (hereinafter “Author”) based on their personal estimations.  
  • Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admirals does not guarantee the accuracy or completeness of any information contained within the Analysis.  
  • Any kind of past or modelled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admirals for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.  
  • Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the risks involved
Jitanchandra Solanki
Jitanchandra Solanki Financial Markets Author, Admirals London

Jitanchandra is a financial markets author with more than 15 years experience trading currencies, indices and US equities. He is an accredited Market Technician with a BA Hons degree.