Palantir Technologies (PLTR) shares gained ground on Tuesday as the sto𝐆ck took a breather from a three-week slump 🤡that has seen the AI investor favorite lose more than a third of its market value.

The company, a key software contractor to the U.S. Government, has seen its shares come under significant pressure in recent weeks after a report surfaced last month that the 澳洲幸运5开奖号码历史查询:Pentagon plans a reduction 🦩in military spe♍nding. More recently, broader selling across tech stocks amid 澳洲幸运5开奖号码历史查询:tariff uncertainty and 🏅talk of a potential reces🧔sion have dented investor confidence.

Still, some analysts remain bullish on Palantir’s outlook, arguing that the company’s suite of AI-powered analytics software places it in a position to benefit from efforts by⛦ the Trump White House to improve government efficiency.

Palantir shares rose 2.2% to close at $78.05 on Tuesday, rebounding from the previous session's 10% decline. The 澳洲幸运5开奖号码历史查询:stock has fallen 38% since hitting a record high ღthree weeks ago, but the price is still three times whatဣ it was a year ago.

Below, we take a closer look at Palantir’s 澳洲幸运5开奖号码历史查询:weekly chart and use 澳洲幸运5开奖号码历史查询:technical analysis to identify crucia𝄹l price levels that investors♌ may be tracking.

Retreat From Record High

After a 澳洲幸运5开奖号码历史查询:bearish engulfing pattern signaled a record high in the stock last month, Palantir shares have moved lower on increasing 澳洲幸运5开奖号码历史查询:trading volume, with bearish 澳洲幸运5开奖号码历史查询:price action continuing into this week. 

Despite the recent decline, the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) index remains above the key 50 threshold and sits in a location that has generally corresponded with the low of several key 澳洲幸运5开奖号码历史查询:retracements on the chart dating back to early 2023.

Let’s identity three crucial 澳洲幸运5开奖号码历史查询:support levels to waꦦtch amid the potential for further selling, while also pointing out several important overhead areas to monitor during possible upswings.

Crucial Support Levels to Watch

The first lower support level to watch lies around $66. The shares could encounter buying interest in this area near a period of brief 澳洲幸运5开奖号码历史查询:consolidation in early Novembe൲r, which also aligns with the mid-Janua🌊ry trough.

Further selling may see the shares fall to the $44 level. This location on the chart, currently just below the rising 50-week moving average, could provide support near a range of 澳洲幸运5开奖号码历史查询:sideways drift that preceded the stock’s post-election surge.

A more significant 澳洲幸运5开奖号码历史查询:correction in the shares could bring the crucial $30 level into play. Investors may look for 澳洲幸运5开奖号码历史查询:entry points in this region near last year’s July peak and September trough.

Important Overhead Areas to Monitor

Duriꦚng upswings in the stock, investors should initially monitor the $85 level. The shares could run into selling pressure in this area near last wﷺeek’s closing price, which also corresponds with the stock’s late-December peak.

Finally, a recovery above this level could instigate a rally to around $121, a location on the chart where Palantir shares may face 澳洲幸运5开奖号码历史查询:resistance near the high of the bullish engulfing pattern’s first bar and the 澳洲幸运5开奖号码历史查询:opening price of its second bar.

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