PLTR, AMD and OXY Forecasts – Earnings Season in Full Force

Palantir (PLTR) Technical Analysis

Palantir had an earnings call overnight that, by all looks would have been somewhat positive, but analysts are concerned about the valuations. They just don’t know that it holds water at this level and they are concerned that the next fatigue that we see in AI could be particularly bad for Palantir.

That being said, as it looks like we’re going to open up lower, there is still significant support near the $128 level, so this is starting to look very much to me like a market that is just going to grind more than anything else, perhaps trying to build up some type of base. So, it could be a buy on the dip opportunity but recognize that there is a little bit of an overhang here.

Advanced Micro Devices (AMD) Technical Analysis

After the bell we will get AMD and its earnings call results. Pre-market looks strong; it wants to go higher, perhaps test that $360 level again. Any pullback here should be thought of as a potential buying opportunity unless, of course, the earnings calls are atrocious.

According to most reports, they should be fine and AMD will probably be traded on the idea of forward guidance more than anything else. This remains a bullish market. I have no interest in shorting it and will take advantage of cheap stock anytime I can.

Occidental Petroleum (OXY) Technical Analysis

Occidental Petroleum reports after the bell as well and this one’s going to be interesting because of everything going on in the supply chain with crude oil. One would assume, being a petroleum name, that profit should be fairly high at the moment, but it’ll be about forward guidance, transmission, and what they are going to do to deal with the new reality of the global supply chain.

Ultimately, this looks bullish to me, and unless the earnings call is a disaster, it should probably continue to try to make its way back to the high at $68. The $58 level offers a little support, followed by the 50-day EMA.

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