Palantir Technologies (PLTR Stock) Price retreats ARK buys more at technical support level
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFER- Palantir shares are stuck in a bearish trend.
- PLTR sees Cathie Wood's ARK buy more.
- PLTR sitting on triangle support formation.
Update April 21: PLTR shares have slid back toward the bottom of our triangle formation and sit at a key level. MACD and Direction Movement Index (DMI) have flagged crossover sell signals recently. $20.97 support holds the last chance for bulls.
Update April 14: Palantir Technologies Inc (NYSE: PLTR) has turned down in Wednesday's trading, changing hands around $25.31 at the time of writing. Te slide of nearly half a percent comes after shares of the Denver-based firm initially shot higher and topped $26. As described below, several bullish catalysts have aligend, thus potentially making the current slide a buying opportunity.
NYSE:PLTR has finally seen the bullish sentiment align with its stock performance after weeks of investors on FinTwit and Reddit calling for a bottom to its downward trend. On Tuesday, shares of Palantir started off well but ended the day stronger as it gained 8.91% to close the trading session at $25.42. This price level represents the highest since the middle of March and investors are hoping that Palantir is finally beginning to retrace to levels last seen before the post-IPO lockup expiration where various high-ranking executives sold off millions of their shares.
Stay up to speed with hot stocks' news!
One of those executives is Peter Thiel who is the co-founder of Palantir as well as the fintech behemoth company PayPal (NASDAQ:PYPL). Along with another Palantir executive Joe Lonsdale, Thiel reiterated his support for Bitcoin and other decentralized currencies, but warned that governments like China are already digitizing their financial system at a faster rate than America. Currently, the IRS uses Palantir’s technology to search data for tax evasion, and Thiel’s history in the fintech and data analytics industries could put Palantir in the driver’s seat for a potential U.S. digital currency down the line.
PLTR Stock Forecast
Thursday marks the scheduled showcase of Palantir’s Foundry software platform to potential clients from all over the world. While any form of digital currency system would undoubtedly utilize the Gotham platform for governments, any discussion of the potential of this in Palantir’s future could send the stock skyrocketing. It is interesting to note that following Palantir’s first Demo Day in January of this year, the stock struggled in the weeks following.
- Palantir shares are stuck in a bearish trend.
- PLTR sees Cathie Wood's ARK buy more.
- PLTR sitting on triangle support formation.
Update April 21: PLTR shares have slid back toward the bottom of our triangle formation and sit at a key level. MACD and Direction Movement Index (DMI) have flagged crossover sell signals recently. $20.97 support holds the last chance for bulls.
Update April 14: Palantir Technologies Inc (NYSE: PLTR) has turned down in Wednesday's trading, changing hands around $25.31 at the time of writing. Te slide of nearly half a percent comes after shares of the Denver-based firm initially shot higher and topped $26. As described below, several bullish catalysts have aligend, thus potentially making the current slide a buying opportunity.
NYSE:PLTR has finally seen the bullish sentiment align with its stock performance after weeks of investors on FinTwit and Reddit calling for a bottom to its downward trend. On Tuesday, shares of Palantir started off well but ended the day stronger as it gained 8.91% to close the trading session at $25.42. This price level represents the highest since the middle of March and investors are hoping that Palantir is finally beginning to retrace to levels last seen before the post-IPO lockup expiration where various high-ranking executives sold off millions of their shares.
Stay up to speed with hot stocks' news!
One of those executives is Peter Thiel who is the co-founder of Palantir as well as the fintech behemoth company PayPal (NASDAQ:PYPL). Along with another Palantir executive Joe Lonsdale, Thiel reiterated his support for Bitcoin and other decentralized currencies, but warned that governments like China are already digitizing their financial system at a faster rate than America. Currently, the IRS uses Palantir’s technology to search data for tax evasion, and Thiel’s history in the fintech and data analytics industries could put Palantir in the driver’s seat for a potential U.S. digital currency down the line.
PLTR Stock Forecast
Thursday marks the scheduled showcase of Palantir’s Foundry software platform to potential clients from all over the world. While any form of digital currency system would undoubtedly utilize the Gotham platform for governments, any discussion of the potential of this in Palantir’s future could send the stock skyrocketing. It is interesting to note that following Palantir’s first Demo Day in January of this year, the stock struggled in the weeks following.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.