PLTR Drops 6.8% — Can Bulls Reclaim $182 to Revive Momentum?
$Palantir Technologies Inc.(PLTR)$
$175.05 (−6.84%): Failed retest after new highs; momentum cools—watch 175/182 pivot (range 170–191)
Market Recap (today):
Palantir closed at $175.05, down −6.84%, trading a wide $174.53–$191.09 on ~77.85M shares vs ~61.81M avg (~1.26×).
Price sits ~15.6% below the 52-week high ($207.52). Core drivers: (1) Post-breakout profit-taking after the push toward $200; (2) Sector risk-off in AI/software weighing on high-beta names; (3) a gap-down open that never reclaimed intraday VWAP, keeping sellers in control.
On the chart, price closed below both EMAs—20-EMA $186.60 and 50-EMA $178.69—marking a near-term character change from “buy-the-dip” to “prove-it rally.”
Indicators & 1-week outlook:
MACD(12,26,9) shows the line (~3.48) below signal (~4.41) with a negative histogram (~−0.93)—bearish momentum rollover.
RSI(14) ~43 pulls back to neutral-weak, allowing further digestion. Volume expanded on the selloff, confirming supply. Base case (next week): sideways-to-down unless bulls reclaim $182 quickly; a firm close back above $186–188 (20-EMA) would neutralize damage and reopen $195–$200.
Key levels: Support $175 / $170 / $167; Resistance $182 / $186–188 / $200. Valuation: TTM P/E ~398× (Yahoo) vs S&P 500 ~27×, well above PLTR’s multi-year median—execution and growth durability must stay pristine.
Target: Reclaim $182 → $186–$188 bounce zone; sustained close > $188 eyes $195–$200. Failure to hold $175 risks a slide toward $170–$167 for a deeper test of trend support.
Risk / Disclaimer: High multiple + headline sensitivity can amplify gaps around guidance, contracts, or macro prints; use disciplined risk controls. Technical commentary only, not investment advice. Data cross-checked with Yahoo Finance & TradingView (today).
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