During Friday's Lightning Round segment of Mad Money one caller got the chance to ask Jim Cramer what he thought about Palantir Technologies (PLTR) . "This is a buy. I wish we knew more about them, but they are a good company," responded Cramer.
Let's check out the charts of this company that performs a deep search of all criminal, financial, medical, communication, and clandestine agency records on the target.
I reviewed the charts of PLTR on June 1 writing, "Continue to hold longs recommended on May 11. Aggressive traders could buy more at current levels risking to $16. $28 and $39 are our price targets for now." Traders who bought PLTR got a rally to $28 this month but another review of things seems in order today.
In the updated daily bar chart of PLTR, below, we can see that the shares made a low in May and a higher low in July. Prices are trading above the 50-day and the 200-day moving averages.
The daily On-Balance-Volume (OBV) line has climbed steadily since May and its new high is bullish as it tells us that buyers of PLTR have been more aggressive with heavier volume being traded on days when PLTR has closed higher. The Moving Average Convergence Divergence (MACD) oscillator is bullish and rising too.