PLTR Price Prediction: Palantir Technologies Inc bulls need to surpass these two technical hurdles
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 Technologies Inc has kicked off May with another downside move.
- NYSE: PLTR needs to surpass two significant technical hurdles to convince bulls to charge forward.
- Critical support remains far, but a downtrend in markets could push it lower.
- Palantir Technologies dips again as investors sour on CEO’s payday
If a stock falls when broader markets rise, its weakness is exposed in the open – that is what Palantir Technologies Inc (NYSE: PLTR) is experiencing on the first day of May. Shares of the somewhat secretive technical company has been struggling to gain ground amid concerns of insider selling. If CEO Alex Karp is dumping shares, what should retail investors do?
Stay up to speed with hot stocks' news!
On the other hand, the company is somewhat less controversial than it used to be. Helping Britain's National Health Service (NHS) to cope with COVID-19 is seen as a much more noble cause than unknown work for the CIA. Moreover, investment from Cathie Woods' ARK has also helped put the company founded by Peter Thiel in front of investors.
Can it move higher? Technicals are painting a mixed picture.
PLTR Stock Forecast
NYSE: PLTR has kicked off Monday's trading session with a drop of nearly 2% at the time of writing. If the trend continues, it would prove that the closing level of $24.11 recorded on April 26 was a lower high – following the footsteps of the $25.42 top seen on April 13.
Surpassing both these levels is critical for resuming the uptrend. Can PLTR do that? Thinking defensive, the critical support line to watch is $21.78, which was a low point on April 20. There is still substantial room from current prices to that point, implying further selling could be absorbed before bargain-seekers would need to jump in.
All in all, the red on the chart is not the best picture for those investing in Palantir, but bulls have a clear path to the upside – should they pick it.
At the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
Errors and omissions excepted.
- Palantir Technologies Inc has kicked off May with another downside move.
- NYSE: PLTR needs to surpass two significant technical hurdles to convince bulls to charge forward.
- Critical support remains far, but a downtrend in markets could push it lower.
- Palantir Technologies dips again as investors sour on CEO’s payday
If a stock falls when broader markets rise, its weakness is exposed in the open – that is what Palantir Technologies Inc (NYSE: PLTR) is experiencing on the first day of May. Shares of the somewhat secretive technical company has been struggling to gain ground amid concerns of insider selling. If CEO Alex Karp is dumping shares, what should retail investors do?
Stay up to speed with hot stocks' news!
On the other hand, the company is somewhat less controversial than it used to be. Helping Britain's National Health Service (NHS) to cope with COVID-19 is seen as a much more noble cause than unknown work for the CIA. Moreover, investment from Cathie Woods' ARK has also helped put the company founded by Peter Thiel in front of investors.
Can it move higher? Technicals are painting a mixed picture.
PLTR Stock Forecast
NYSE: PLTR has kicked off Monday's trading session with a drop of nearly 2% at the time of writing. If the trend continues, it would prove that the closing level of $24.11 recorded on April 26 was a lower high – following the footsteps of the $25.42 top seen on April 13.
Surpassing both these levels is critical for resuming the uptrend. Can PLTR do that? Thinking defensive, the critical support line to watch is $21.78, which was a low point on April 20. There is still substantial room from current prices to that point, implying further selling could be absorbed before bargain-seekers would need to jump in.
All in all, the red on the chart is not the best picture for those investing in Palantir, but bulls have a clear path to the upside – should they pick it.
At the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
Errors and omissions excepted.
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.