Palantir Stock Surged To A New Record Last Week—Watch These Key Price Levels | Global News Avenue

palantir(bacteria) There were solid shares last week and will likely continue to focus on Monday. The company’s stock soared to new highs after investors’ optimism about it Powerful 2025 Outlook Integration with Grok, chatbot Elon Musk’s Xaienter its artificial intelligence (AI) platform.

Several analysts have raised their price targets for the stock since the company’s optimistic results on Monday, driving that price increase.

Stocks become part of both S&P 500 and Nasdaq 100 Index In 2024, trading prices have been traded nearly 50% since the beginning of this year to the end of Friday, and demand for AI-driven has soared by 370% over the past 12 months analyze Software that allows customers to make smarter data-driven decisions.

Next, we will study it carefully technology In Palantir Weekly chart and identify key price levels that investors may be focusing on.

Rectangle formation breakthrough

Palantir shares the decisive breakthrough Above Rectangle formation Last week, the signal continue The stock’s long-term uptrend.

Importantly, this move happens at the highest weekly Trading volume Since early February last year, strong purchase convictions from large market participants have been shown. and, Relative Strength Index (RSI) Confirm the bullish price momentum by reading more than 80, although the indicator also flashes Overbought Increased the possibility of near-term profits.

Let’s apply Technical Analysis To predict how long-term bullish continuation activity works, point out the key Support level Worth watching during the potential period answer.

Bar chart analysis

To predict continuation of transitions in Palantir stock, investors can use the Bars model tool, a technology that analyzes previous trends to speculate on future directional movements.

When applying analysis, we will trend Move from February to November last year and repositioned from last week’s breakthrough. This predicts a target of around $240 and shows that the uptrend can last until November this year based on price history. From perspective, that’s more than double the $110 that stocks closed on Friday.

We chose this previous trend as it follows early rectangular formation on the Palantir chart to increase the return-driven breakthrough of volume, which has the potential to provide insights on how to form similar moves.

Key support levels to watch

period Callbackinvestors should initially watch the $85 level. Investors who are unwilling to pursue breakthroughs may look for Entrance point Back to the top trend line of the rectangle group, you can Resist support.

Finally, selling below this level could make Palantir stock revisit the lower support for about $66, the location could attract purchase interest near the rectangular lower trend line.

Comments, opinions and analysis expressed by Investopedia are for informational purposes only. Read ours Warranty and liability disclaimer For more information.

As of the date of writing this article, the author does not own any of the above securities.