PLTR News: Palantir Technologies extends gains and hints at autonomous driving tech

  • NYSE:PLTR added a further 1.53% on Wednesday as the broader markets rallied once again.
  • Palantir tweets it will be presenting at the upcoming CNBC Auto Digital Solutions Expo.
  • Palantir’s chart appears to be trending back into bullish territory.

NYSE:PLTR has seen its recent sentiment flip back to bullish, as the investors confirmed the fact that the stock had reached oversold territory. On Wednesday, shares of Palantir gained 1.53% to close the session at $22.52. The move came alongside a second straight day of the market rallying, as Wall Street pushed aside fears of rising cases of the delta variant. Stocks received a further boost as the 10-year treasury bond yield also continued to rise, briefly eclipsing 1.3% during the session. 

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After the markets closed on Wednesday, Palantir Technologies tweeted out that the company is planning on presenting at the upcoming CNBC Auto Digital Solutions Expo. Palantir used the hashtags #autonomous, #automotive, and #digital transformation, which led people on social media to begin interpreting what the company has on the horizon. The event is being held virtually on July 22nd, and Palantir hints that it will be describing how its data analytics platform is contributing to what the company calls ‘the intersection between autonomous and electric vehicles’. This would be another in a long line of global secular trends that Palantir is involved with, which is positioning the company well for future growth. 

PLTR stock forecast

Palantir looks to be reversing the recent bearish trend with its third straight positive session, and investors are hoping that this week will put an end to the streak of four straight red weekly candles. The MACD is also curling back over into positive territory, which is usually an indicator that the sentiment has flipped. Look for Palantir to run here if it can find support, as the stock has a history of heading into earnings calls on a bullish note. 

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