Watch These Palantir Price Levels After Stock’s Nasdaq 100 Inclusion | Global News Avenue

Palantir Technologies (PLTRThe analytics software provider announced a partnership with MicroStrategy (Magnetic transmission technology) and Axon Enterprise (axon), used to be Included in the Nasdaq 100 Index.

The stock is included in Highly technical benchmarks As of Friday’s close, the number had more than quadrupled from the start of the year, driven by growing demand for customizable software from the maker. Artificial Intelligence (AI) offerings. After strategic listing from Nasdaq, the company’s shares are eligible to join the index New York Stock Exchange (NYSE) last month.

Next, let’s break it down technical in Palantir Weekly chart and identify key price levels that investors are likely to focus on.

Cup-and-handle bullish breakout continues

Since breaking free from the shackles of many years cup and handle pattern In August, Palantir’s stock price continued to rise sharply. trading volume Support for the move suggests buying participation from larger market players.

this Relative Strength Index (RSI) Although the indicator rose above 80, it still confirmed the bullish momentum overbought conditions, which could lead to near-term price volatility.

Let’s apply technical analysis Bullish long-term forecast price targetand also pointed out the key support level This could attract buying interest during a pullback.

Bullish Chart-Based Price Targets

To predict potential bullish price targets, investors can use Measurement principlea chart-based technique that analyzes cup and handle patterns to predict future movements.

When applying this method to Palantir’s chart, we calculate the percentage change in the “cup” of the cup and handle and add it to the top of the pattern trend line value. For example, on $29, we move 383% higher, with a projected price target of $140.07, which is about 85% above Palantir’s closing price on Friday.

Key levels to watch during pullbacks

if Take profits If that happens, the stock could initially revisit support near $45, a level on the chart where investors might look for buying opportunities in the near term. merge Inventory for October.

Finally, a selloff below this level could trigger a decline support area Between $33 and $29. This area on the chart is likely to attract buying interest near the cup-and-handle pattern’s top trendline and the upward-sloping 50-week moving average.

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As of the date of this writing, the author did not own any of the securities mentioned.