PLTR Stock – The Most Active Stocks Today; AMC, PIRS, PLTR
Fear was driven today in the Markets despite the Market Indices only being down slightly in the red. The Invesco QQQ Trust NASDAQ (QQQ) finished up +0.14%, the S&P 500 ETF (SPY) finished down -0.22%, iShares Russell 2000 ETF (IWM) finished down -0.97%.
Despite the mixed signals from the Market Indices today, these stocks saw momentum on high volume today.
The most active stocks today, hand picked by Lusso’s News were:
AMC Entertainment [NYSE:AMC]
AMC closed today up over 19% on over 200 Million shares traded on the day. This comes after the stock has been a retail favorite with hashtags on twitter of “#AMC500k”.
AMC, investors have also used the words “Diamond hands” meaning they are not selling it and they are in it for the long haul.
To be honest with you, the chart is not a bad looking chart in my opinion. You have a few things worth mentioning that stick out to a chartist on this daily chart:
- The volume is very strong on green days the past few sessions traded showing a large demand
- The volume is contracted on selling showing limited supply
- The Trendline since February is holding and is now trying to breakout above resistance
Palantir Technologies [NYSE:PLTR]
Diving right into the chart, you can see that the trendline on the daily chart from Mid-March is currently being tested. This trendline has been resistance in the past but, after the company reported earnings, will this be enough to push the demand through resistance and cause a breakout?
Today the stock saw continued high volume of over 49 Million shares traded on the day.
It is also worth mentioning that the chart shows a breakout would possibly include a breakout above:
- The 50 day moving average
- The trendline since Mid-March
These technical areas could possibly be a catalyst for shorts to begin to cover. If this happens it can really raise momentum into this stock.
Pieris Pharmaceuticals [NASDAQ:PIRS]
Breaking: As of 6:40 PM EST this stock is up 42% after hours trading around $5.30.
Why is this up?
PIRS is trading over 100% higher today because it announced news today of a Genetech collaboration that was valued around $1.4 Billion. The stock traded on record volume and continues to trade higher after hours.
*The author does not hold positions in these companies at the time the article was posted on May 25th, 2021