Technical Analysis on Palantir Technologies Inc (PLTR)

Palantir (PLTR) is currently in a short-term bullish phase, as indicated by the green trendline, which began in May 2023 with the breakout of the descending trendline (orange) accompanied by a gap up and increasing volume.



The stock has recently broken above the resistance zone R1, which it is currently retesting.

Bullish Scenario:
A short-term bullish scenario would see a move toward the next resistance level R2 in the $38-$40 area.



Bearish Scenario:
If the retest of resistance R1 fails, the stock could move towards the support areas, where potential entries could be considered if one anticipates a rebound:

• The POC area around $24;
  
• The weekly support S1;
  
• The weekly support S2.
  

The support zones S2 and S1 are more clearly visible on a monthly timeframe: