Palantir Technologies (PLTR🐼) shares were down slightly on Monday after gaining ground last week for the fi🌠rst time in four weeks.

Shares in the data analytics software company had come under pressure amid the political and economic uncertainty that has roiled financial markets, as well as specific concerns that reduced spending by the Department of Defense could cut into Palantir's business. The stock fell nearly 40% from its record high, set in mid-February, in less than three weeks.

The 澳洲幸运5开奖号码历史查询:stock bounced back last week after the AI investor favorite announced six 澳洲幸运5开奖号码历史查询:new large clients and inked a strategic product 澳洲幸运5开奖号码历史查询:partnership with Nvidia (NVDA)-backed startup, Databricks.

Despite the stock’s recent 澳洲幸运5开奖号码历史查询:retracement, Palantir shares have gained about 14% since the start of the year and more than quadrupled in 2024 as commercial and 澳洲幸运5开奖号码历史查询:public sector customers embrace the company’s AI-powered software to customize data aimed at improving efficiency. The st♛ock was down 0.7% at $85.60 in recent trading.

Below, we take a closer look at Palantir’s chart and use 澳洲幸运5开奖号码历史查询:technical analysis to identify key pri♕ce levels worth watching out for.

Gap Fill

After the stock's large drop, the shares found buying interest after the price filled an early-February 澳洲幸运5开奖号码历史查询:breakaway gap. However, more recently, the price has traded mostly sideways, indicating indecision 🌠among market participants.

While the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) sits belo𓆉w the 50 threshold, the indicator climbed to its highest level in threꦯe weeks on Friday, signaling improving momentum.

Looking ahead, let’s point out key 澳洲幸运5开奖号码历史查询:support and resistance levels on Palantir’s chart that 🎃inv🌄estors may be eyeing.

Key Support Levels to Watch

Investors should initially keep a close eye on the $85 level. While the stock traded below this price for most of last week, it managed to close above it on Friday. The location will likely continue to attract attention, given its proximity to the nearby 澳洲幸运5开奖号码历史查询:50-day moving average and an area of prior resistance🌠 that preceded last month’s break𒁏away gap.

The bulls’ failure to defend this level could see a retreat to around $66. Buyers may look for 澳洲幸运5开奖号码历史查询:entry points in this region near the top of a prior 澳洲幸运5开奖号码历史查询:pennant pattern, which roughly aligns with the mid-January 澳洲幸运5开奖号码历史查询:swing low.

Important Resistance Levels to Monitor

A continuation of Friday’s buying momentum could see the shares make a move towards the 澳洲幸运5开奖号码历史查询:psychological $100 level. Investors who have bought the stock’s recent pullback may look to lock in profits in this location near the low of a brief 澳洲幸运5开奖号码历史查询:consolidation period that followed last month’s gap.

Finally, a more bullish move may lead to a retest of higher levels around $125. A rally up to this area could see Palantir shares run into selling pressure neat the stock’s 澳洲幸运5开奖号码历史查询:all-time high (ATH) set last month.

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