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- Palantir Technology has recently announced that they will be integrating the widely used Rstudio in their foundry
- PLTR stock is currently struggling to cross above IPO mark. It is currently trading near $6.7 with a gain of 3%
Palantir Technologies is a software company that provides data analysis and management services to organizations in a variety of industries, including government, finance, healthcare, and energy.Since going public, Palantir’s stock has performed well. Its initial public offering (IPO) was priced at $10 per share, and the stock has since risen dramatically, reaching a high of over $30 per share before dropping down to $6. The company’s unique blend of software and data analytics expertise has helped to bring the field of data management and analysis to the forefront of the tech industry, and has sparked renewed interest in the field among investors and entrepreneurs alike. Palantir technology work in defense and intelligence has been controversial, with criticism from privacy advocates, but it has also helped to open up conversations around the ethical use of data and technology by the government. Recently they have announced that they will be integrating the R Studio to their foundry
Palantir has a market cap of $13.93 Billion and has a low EPS. It is currently far below its 52 week high. Various analysts are expecting a strong growth in the stock price.
Are Bulls And Bears Of PLTR On Halt?
The weekly technical chart of the Palantir suggests a consolidated trend in price.On coming to the daily chart it is trading near the value of $6.70 and has seen a gain of 3%. The upside momentum of the PLTR can see a halt near $8.5. Meanwhile the support of the asset price can be seen near $5.It is currently trading below the 50 and 100 DMA.It can see a negative crossover which can push the price to a new low.
Conclusion
Palantir Technology has seen a large increase across the globe. PLTR stock price is currently in a weak upside move and can soon see a new high in the future.
Technical Levels
Major Support:$4
Major Resistance:$10
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
