$500 Account Follow Along Day 3 | Entering $HOOD & $PLTR Huge News!

Welcome to day 3 of my $500 Account Follow Along! Check out Day 1 of our $500 Account Follow Along Blog Post where we break down all our trade ideas, go over the strategy we use, and build a watchlist!

Also be sure to check out our Day 2 Post where we talk about our $PLTR trade idea!

We Entered $HOOD At $20.90 Today

Our trade idea for $HOOD was waiting for a 4H candle close above $20.90 to put a Limit Order in at $20.90. We are looking to allocate $80 to this trade.

During after-hours last night we did get a 4H candle close above $20.90, however with our strategy we don’t enter plays or “count” the candle closes that signal entry criteria during After-Hours or Pre-Market.

In the video at the top of this article you can see that we had a trade idea option for $HOOD at the $19.62 level, but the price never got that low.

It did however break above $20.90 and close a 4H candle above $20.90. So I set a limit order to buy 4 shares (as close to $80 allocation as I could get as my broker doesn’t allow fractional shares on Limit Orders). The order didn’t fill during Regular Market Hours.

Typically we would wait until Regular Market Hours to take trades with this strategy, however in this instance we decided to leave our Limit Order open during After-Hours, strictly due to some smaller timeframe analysis and overall bullish sentiment we have on $HOOD. That being said, the safer entry would be to wait until tomorrow’s regular trading hours to set a limit order at $20.90.

So right now we are in $HOOD at $20.90 entry, using 4 shares (our entire intended position. Some strategies have you buy in slowly to positions and average down, however this strategy uses high conviction Technical Analysis and Position Size Management techniques to mitigate risk instead of the buying in slow/averaging down technique. Our targets are $23.74 and $26.67 with a stop loss at $19.59.

Palantir Scores Big with $480 Million Army Contract

What: Data analytics firm Palantir Technologies (PLTR) secured a significant win with a fresh $480 million contract from the U.S. Army. This deal focuses on the development of the Maven Smart System, an AI-powered program designed to enhance target identification for soldiers.

Why: The Army is seeking to leverage Palantir's expertise in artificial intelligence and computer vision to improve battlefield awareness and decision-making. The Maven system aims to analyze data feeds from various sensors and provide real-time insights for faster and more accurate target recognition.

How (This Affects Investors): This substantial contract reinforces Palantir's position as a key player in government AI solutions. The $480 million windfall could boost investor confidence and potentially translate to increased share price.Additionally, this win strengthens Palantir's reputation within the defense sector, potentially leading to further lucrative contracts in the future.

Keep in Mind: While positive, this is a single contract, and future performance will depend on successful project delivery. Investors should also consider broader market conditions and Palantir's overall business trajectory.

Learn How To Chart These Out On Your Own!