PLTR Rebounds 6.85% From Support as Bulls Target $188

Trend_Radar
02-04 17:02

$Palantir Technologies Inc.(PLTR)$

Palantir Technologies Inc.(PLTR) Jumps +6.85%: Bounces from Support, $188 Target in Sight

Latest Close Data

Closed at $157.88 (+6.85% | +$10.12), trading ~24% below its 52-week high of $207.52.

Core Market Drivers

The strong bounce follows a multi-day pullback, likely fueled by dip-buying and ongoing institutional interest in its AI/analytics platform.

Recent market volatility has increased demand for its data-driven decision-making tools.

Technical Analysis

  • Volume surged to 113M shares (VR: 2.25), confirming the rebound.

  • RSI(6) spiked from oversold levels at 10.94 to 46.22, indicating strong buying momentum.

  • MACD histogram turned less negative (-3.75 vs -5.33 prior), suggesting bearish momentum is weakening, though DIF and DEA remain negative.

Key Price Levels

  • Primary Support: $147.74 (Previous support & today's low zone).

  • Immediate Pivot: $157.88 (Today's close).

  • Strong Resistance: $177.84 (Recent swing high). A break above targets the $188 area.

Valuation Perspective

Forward P/E sits at 133.89, slightly above its historical average of 132.27 but well below its +1 Std. Dev of 209.98. P/S TTM is elevated at 96.58, reflecting high growth expectations.

Analyst Targets

23 analysts have an average price target of $188.19 (upside ~19%). Sentiment is mixed: 5 Strong Buy, 5 Buy, 14 Hold, 2 Underperform, 1 Sell.

Weekly Outlook

Expect consolidation between $148-$168. A sustained close above $165 could accelerate a move toward $177 resistance. Failure to hold $148 support may retest lower levels.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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