Palantir (Weekly) - Consolidation Near All-Time High

After reaching a new All-Time High (ATH) in recent weeks, Palantir has entered a period of consolidation. The stock has since been trading in a sideways range, struggling to break past the newly established resistance level.

Emerging Bullish Signals 👍
Despite the sideways movement, several indicators suggest that buyers are showing renewed interest:

- Momentum: Short-term Exponential Moving Averages (EMAs) have formed a positive crossover, a technical signal indicating that upward momentum is building.

- Volume: Trading volume has been noticeably increasing, which suggests growing accumulation and buyer interest at the current price levels.

Future Outlook and Key Price Levels
The stock is currently positioned for a potential move, with two clear scenarios:

- Bullish Case 📈: A decisive breakout above the short-term horizontal resistance would signal a continuation of the uptrend. If this occurs, the next potential price target could be USD 234.

- Bearish Case 📉: If the stock fails to overcome the resistance and momentum fades, it may decline to the lower boundary of its consolidation range, with a potential support level near USD 142.

Watchout for the next moves !!