International Business Machines (IBM: NYSE)

International Business Machines (IBM), a prominent tech company, has entered into a strategic collaboration with government contractor Raytheon Technologies. This partnership aims to develop advancements in AI and quantum computing, with a specific focus on applications in the aerospace, defense, and intelligence industries. The deal positions IBM as a key player in catering to the U.S. government’s AI and quantum computing needs, offering substantial growth prospects for the next decade.

IBM’s rollout of the Watson AI platform adds to its strategic initiatives, providing an opportunity to enhance revenue streams from its enterprise customer base. With these positive developments, the bullish outlook on IBM is maintained, setting an entry target above $134.00-$135.00 and an upside target of $190.00-$200.00.

Palantir (PLTR: NYSE)

Palantir Technologies (PLTR), a leading software platform developer for the U.S. intelligence community, has secured a significant contract with the U.S. Army, amounting to $250 million for AI-related research and experimentation. This contract signals a potential stream of similar AI deals in the coming years, contributing to PLTR’s substantial growth trajectory. Notably, PLTR’s commercial revenue is experiencing robust growth at a rate of 23%, with a remarkable 33% expansion in the U.S. commercial customer base last quarter.

As commercial revenue constitutes 45% of Palantir’s total revenue, sustained strength in this segment could potentially surpass government revenue, ensuring PLTR’s growth momentum in the long term. The bullish stance on PLTR is reinforced with an entry target above $17.00-$17.50 and an upside target set at $29.00-$30.00.

Frax Share (FXSUSDT)

FXS is deviating back into its range, with key levels as follows: Range high at $7.50 and range low at $4.00.

Range-Bound Scenario: FXS is currently within the $7.50 to $4.00 range, showcasing a potential range-bound scenario.

Long Recommendation: Going long is not recommended unless FXS can reclaim and hold above $7.50. This level is crucial for signaling a potential bullish move.

Shorting Opportunity: Absent a sustained move above $7.50, FXS might present a shorting opportunity. The target for a potential short position could be the mid-range support at $5.75.

Investors and traders should exercise caution and closely monitor price movements, especially around the critical $7.50 level. Successful reclamation of this level could indicate a bullish trend, while failure might lead to shorting opportunities targeting the mid-range support.

Bitcoin Dominance (BTC.D)

BTC.D is nearing the weekly support line that originated at the beginning of the year, setting the stage for potential developments.

Weekly Support Line: BTC.D is approaching the critical weekly support line that has been in play since the start of the year. The potential retest by the end of the year is a significant scenario to watch.

Support Holds Scenario: If the support holds and BTC.D breaks above the 53% level, there’s a potential for a move towards 56.30%. This could signal resurgence in Bitcoin dominance.

Support Breaks Scenario: Conversely, if both the 52% level and the weekly support line are breached, the next level of support is estimated at 49%. This would suggest a shift away from Bitcoin dominance.

Investors and traders should closely monitor BTC.D as it approaches these critical support levels. The reactions at these levels could provide insights into the broader market sentiment and potential shifts in dominance.