Stock Of The Day: Why Palantir May Be About To Reverse
Portfolio Pulse from Mark Putrino
Shares of Palantir Technologies Inc. (NYSE:PLTR) are trading lower after announcing a new contract with Starlab Space. The stock appears overbought and is approaching a resistance level, suggesting a potential price reversal.
June 20, 2024 | 7:09 pm
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Palantir Technologies Inc. (NYSE:PLTR) shares are trading lower after announcing a new contract with Starlab Space. The stock is overbought and approaching a resistance level, which could lead to a price reversal.
The stock is currently overbought, trading above the Bollinger Band, and approaching a resistance level. Historical patterns show that PLTR tends to reverse and sell off under these conditions. This combination of factors suggests a likely downturn in the short term.
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IMPORTANCE 80
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