Sat. Oct 16th, 2021

As we commented yesterday in our analysis of weekly prospects, this morning we learned the important quarterly data from the German GDP which has been better than expected by the consensus of analysts after during the second quarter the German economy grew at a rate of 1.6%, leaving year-on-year GDP growth at two tenths of a percentage point above what was expected with the market consensus of up to 9.8%.

In principle, this would reinforce the idea that we are on the path of growth and economic recovery, but, as we said yesterday, Preliminary PMI data were quite negative, so this could be a sign that the impact of the Delta variant could be greater than expected, posing problems in the economic recovery as in the case of oil..

The reality is that uncertainty about the future continues to grow every day if we consider the geopolitical changes involving, for example, the exit from Afghanistan and possible future conflicts, the struggle for world hegemony between the United States and China or the possible effects that future variants and the evolution of the pandemic which began more than a year and a half ago.

If we add to all this the uncertainty and volatility that can be generated in the financial markets in view of the economic measures that can be taken by bodies such as the Federal Reserve or the European Central Bank to combat inflation, such as increasing interest rates. interest and the gradual reduction of their respective balance sheets after the large number of asset purchases that have taken place in recent years, it is not uncommon for more and more people to doubt the capacity of these bodies and the FIAT coins, looking for alternatives in cryptocurrencies or returning to gold as in the case of Palantir.

Palantir is an American company founded in 2003 and specialized in big data, which focuses mainly on the creation and implementation of software platforms for intelligence and defense services for government agencies. the IPO of which occurred on September 30, 2020 with an estimated market value of $ 22 billion.

This company presented on August 12 its quarterly results for the second quarter of the year and, as in all the results presented after its IPO, these exceeded expectations after obtaining a earnings per share and revenue of $ 0.04 per share and $ 375.64 million respectively.

But what strikes us most about this company is that recently, has announced the acquisition of $ 50.7 million worth of gold bars as part of its risk diversification strategy in the face of a possible “Black Swan” event in the stock markets, thus showing its doubts about the future.

In addition to this purchase, we must note that Palantir also announced that it would accept payments in Bitcoin and gold, although so far no one has paid them yet with these.

Technically speaking, after a dramatic increase in the stock market throughout 2020 and during the beginning of the year, Palantir is far from the all-time highs reached last January at around $ 45 per share, where a sharp correction began that led him to set annual lows around $ 17.70 per share.

For now, Palantir is trading near the psychological level of $ 25 per share and breaking that level could give wings to a new upward momentum that would have to face several levels of resistance before reaching highs. On the contrary, it seems that this company has found a significant level of support in the average of 200 sessions in red after having repeatedly rejected it since mid-July.

Source: Palantir daily chart of the Admiral Markets MetaTrader 5 platform from December 10, 2020 to August 24, 2021. Prepared on August 24, 2021 at 11:40 am CEST. Please note that previous returns do not guarantee future returns.

Evolution of Palantir on the Stock Exchange:

  • 2021: 11.83% (first half)
  • 2020: 147.89%

With the Admirals Trade.MT5 account, you can exchange contracts for differences (CFD) in Palantir, gold and more than 3000 shares. CFDs allow traders to try to benefit from bullish and bullish markets, as well as the use of leverage. Click on the following banner to open an account today:

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