Palantir
Palantir (PLTR) did what Palantir does this morning as the company announced that the Army has selected them to deliver technology to the TITAN System. I’m oversimplifying here, but TITAN is a military tech system that delivers data from sensors that enables remote forces to operate and make real-time decisions.
The announcement is another that displays Palantir’s strong relationship with the U.S. Government’s expanding AI ambitions, the reasons that Palantir has been one of my favorite AI sleeper stocks for the past two years.
Shares are trading 6% higher above $25 as they prepare for their next rally to $30, which is likely to occur ahead of their next earnings date slated for May 6.
JD.com
Shares of JD.com (JD) are trading higher this morning after the company reported better-than-expected earnings results for their fourth quarter. The company beat expectations by $0.49 and grew year-over-year revenue by 3.6%, which continues a downward trend in the fundamental measures of the stock.
Shares of JD have been trading in a wide range for the last three months as investors have been weighing the trend of the Chinese economy and its results on retailers like JD. Today’s 15% rally, which impressive, still leaves the stock within that wide range. Additionally, traders are likely to apply selling pressure to the stock as it challenges the round-numbered $25 level.
Watch for any selling pressure that moves the stock back below $24 – site of the stock’s bearishly trending 50-day moving average – to indicate that the bears are still in control of JD Shares.
CrowdStrike Holdings
Shares of CrowdStrike Holdings (CRWD) are jetting 16% higher to break through the round-numbered $350 price this morning as the company released much better-then-expected earnings last night.
This AI service stock has been pacing along with some of the more focused AI names like Nvidia (NVDA) as CRWD shares are trading 170% higher over the last 12 months.
Over the short-term, you should expect some selling pressure at the $350 price as a result of “math” – that’s my way of saying the stock is trading above a key technical – but we’re also likely to see buyers move in to “buy the dip” if the stock hits $325.
Like Palantir, CrowdStrike is a good complement to any AI portfolio.
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About the Author
Chris Johnson (“CJ”), a seasoned equity and options analyst with nearly 30 years of experience, is celebrated for his quantitative expertise in quantifying investors’ sentiment to navigate Wall Street with a deeply rooted technical and contrarian trading style.
