Why The Time To Buy Palantir Stock Might Be Right Now

Palantir Technologies Inc PLTR is past the point of control from a technical standpoint, host Neil Hamilton said Wednesday on Benzinga's YouTube show "Get Technical." 

When the stock passed the point of control, "it became a buy for me," Hamilton said. 

Related Link: Palantir's Stock May Have Just Broken Out Of Old Bearish Pattern

Hamilton charted the "point of control" using a volume profile Tuesday on "Get Technical." 

The volume profile shows the area of control, which Hamilton said is where most of the buying and selling occurs. 

Hamilton was looking for a session close above that point on higher than average volume, as seen on the Palantir chart at the close Tuesday. 

Palantir has a great story and "it's a great long-term holding," Hamilton said. 

Palantir Events: Palantir is holding the first in a series of  "Double Click" events Wednesday at 11 a.m. ET, in which the company will showcase its "Foundry" product.

See also: Is Now The Time To Buy Stock In Palantir, Tesla, Nio, Ford Or GM?

PLTR Price Action: Palantir was down 2.75% to $24.72 at last check Wednesday. 

Photo courtesy of Palantir.