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- 1 Palantir technology is showing strength as it reaches its next earning release.
- 2 PLTR stock price bulls are ready to push the asset price to a new high. It is currently trading near the value of $8.58
Palantir Technologies Inc. is a data analytics software company that provides solutions to other businesses and governments. They have gained a lot of attention in the past due to their work with government agencies and other projects.PLTR stock has seen a lot of volatility since its IPO came in 2020. One of the factors that contributed to their growth is that there is an increasing demand for data analytics and AI solutions. Palantir is currently expanding into a lot of marketplaces. Palantir stock has recently gained because they have expanded their cloud partnership with Microsoft in the public sector. PLTR stock is currently looking to show strength and see a rally to a new high. PLTR is currently down by more than 40% from its 52-week high.
PLTR Stock has a market cap of $17B and is growing higher and higher. It has a negative EPS and its P/E ratio may also rise in the future. Various analysts are expecting strong growth in the asset price in the future.
PLTR Stock Price Take A Halt Near Crucial Level
The weekly technical chart of Palantir stock price suggests a consolidated trend in price. On the daily chart, it is taking the support near crucial levels. PLTR stock price is currently near the value of $8.58 with a small gain in the intraday session. The upside trend of the asset price can see a halt near the value of $10.Meanwhile, the downside momentum of the stock price can see a bounceback from $7.5.PLTR stock price is above the 50 and 100 Daily Moving Averages. There can be a positive crossover in the future which can push the asset price in the future.
The RSI of the asset price is near 57 suggesting its presence in the overbought zone. There is a positive slope hinting towards a weak upside trend in price.
Summary
Palantir has expanded its cloud partnership with Microsoft in the public sector.PLTR stock price is observing a consolidated trend in price and can observe a strong upside trend in the future.
Technical Levels
Major Support:$8
Major Resistance:$10
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
