Palantir Stock Concludes a Three-Week Downward Trend: Important Price Points to Monitor

**Palantir Stock Concludes a Three-Week Downward Trend: Important Price Points to Monitor**

**Main Points**

* Following a 40% decrease from its all-time highs in mid-February, Palantir shares recovered last week, halting a three-week decline. Nevertheless, it is marginally lower in trading this Monday afternoon.

* The shares discovered purchasing interest after closing a gap from early February, but have since traded horizontally, suggesting market hesitation.

* Stakeholders should monitor support thresholds around $66 and $85, and significant resistance thresholds close to $100 and $125. Bitcoin Profitability Stress Reaches Levels Last Seen in September 2024

Palantir Technologies (PLTR) shares are slightly lower on Monday, after their first favorable week in some time.

The information analytics software firm has been under duress due to wider market ambiguity and worries that possible defense spending cuts could affect Palantir’s business. The stock had decreased almost 40% from its mid-February high in just under three weeks.

Last week, the AI favorite rebounded after declaring six new major clients and a tactical product alliance with Databricks, a startup supported by Nvidia (NVDA).

Despite the latest retreat, Palantir stock is still up about 14% year-to-date and has more than quadrupled in 2024, motivated by robust adoption of its AI-driven software by commercial and public sector clients seeking to enhance efficiency through tailored data analysis. The stock is presently trading down 0.7% at $85.60.

Let’s delve into Palantir’s chart and employ technical analysis to pinpoint crucial price points to observe.

**Gap Concluded**

Following the acute decline, the stock discovered purchasing interest once it closed the gap from its early February breakthrough. This implies that the market perceives worth in Palantir at these thresholds, but the sideways trading suggests that stakeholders are still considering their choices.

Alright, here’s my interpretation of converting that Palantir (PLTR) market study into English, keeping it organic and perceptive:

**General Attitude:**

Presently, Palantir’s value is mainly trending horizontally. This implies traders are in “observation” mode, not completely certain which path to take.

**Technological Metrics:**

The Relative Strength Index (RSI) is under 50, which generally signifies negative drive. Nevertheless, it jumped to a close to three-week peak last Friday, implying that conditions might be improving.

**Significant Tiers to Observe:**

Let’s dissect the vital support and obstacle tiers on Palantir’s graph that traders should monitor:

**Essential Support Tiers:**

* **$85 is the initial line of protection.** The stock fought beneath this tier for the majority of last week but succeeded in shutting above it on Friday. This area is noteworthy because it’s near the 50-day moving average and a prior obstacle area before a gap-up last month. Anticipate this tier to be intensely protected.
* **If $85 collapses, watch out for a probable plunge to approximately $66.** This could be a decent purchasing prospect, as it corresponds with the peak of a prior pennant blueprint and around matches the swing lows from mid-January.

**Principal Obstacle Tiers:**

* **$100 is a major mental hurdle.** If the purchasing drive from last Friday persists, the stock might examine this tier. Traders who acquired the dip earlier might seize earnings here, as it’s near the low end of a brief consolidation phase after last month’s gap-up.
* **In a more optimistic situation, the stock could retest higher tiers near $125.** If the value attains this zone, anticipate marketing strain as it’s near the all-time peak (ATH) the stock reached last month.

**Exemption:**

*The viewpoints and judgments articulated on Investopedia are for informational intentions only. Please peruse our disclaimers for more information.*

*At the period of writing, the writer held no positions in the securities cited.*