Palantir Technologies Inc. (NYSE: PLTR) rose 8.91% on Tuesday to close at $ 25.42.
Palantir closed 8.91% at $ 25.42 on Tuesday.
Palantir daily chart analysis: The daily chart shows that Palantir is trading in a channel. The stock seems to have broken above a head-and-shoulders pattern previously written about.
The chart looks like it has support near the $ 20 level. This is a previous resistance level from which the stock could break out, and later found support again. This area may remain as support in the future.
The stock has resisted the $ 30 level several times. The stock could break above this level for a while, but when it fell back to the level to test it as support, it could not hold.
What’s next for Palantir? Bullish technical traders would like to see the stock form higher lows to the resistance level. If the price can cross above the resistance level and consolidate, the stock may see a further upward push in the future.
Bearish technical traders would like to see the stock fall back to the support level and not hold. A cross below the support level with some consolidation could allow the stock to push further downwards.
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