00:00We haven't talked about Palantir too much on the show.
00:03We know it's a retail favorite, of course, breaking out recently.
00:08Is this one that you've been in or how have you been trading this one?
00:12This is another one that I added just about a week ago, very small allocation to my portfolio.
00:18It just has the strength.
00:19Obviously it was added to the S&P, but if you look at yesterday's candle on the daily
00:24chart, it just had a really nice performance yesterday in a market that was very choppy
00:31yesterday.
00:32It spent a little bit of time digesting after that S&P inclusion.
00:38I think it got a downgrade from a broker or something like that, but it's starting to
00:43turn back up.
00:44That's really what I pay attention to, is names that are in a nice trend, but then begin
00:50to digest.
00:51They move back to a 20-day moving average.
00:54I use value areas, so the top of value.
00:57It had a really nice daily candle, so if you go to your daily chart, you'll be able to
01:03see that.
01:04Then just zoom in on that candle right there.
01:06There you go.
01:07Right here.
01:08No, go to yesterday's.
01:09Yeah, right there.
01:10See how that's like a bullish engulfing candle?
01:16The price action started lower on the day and then it engulfed the previous red candle.
01:23For the day, that's a bullish sign.
01:27It tells me that it may be beginning to turn back higher again and resume that trend back
01:32up.
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