Usman Salis
⬤ Palantir Technologies is hitting a brick wall after months of climbing. The rally looks done, and the stock's now showing classic signs of distribution—basically, the smart money's been quietly selling while retail traders kept buying.
⬤ Every time PLTR gets near that $150 mark, it gets smacked down hard. The chart's telling a pretty clear story: sellers are lined up at that level, ready to dump shares the second the price touches it. That resistance isn't budging.
⬤ After getting rejected at $150, the stock already slid back to the mid-$130s, which confirms the weakness. Here's the thing though—if this selling pressure keeps up, the next real safety net doesn't show up until way down at $100. That's where buyers might actually step in and put up a fight.
⬤ What happens next depends entirely on these two price points. If PLTR can't push past $150, this distribution pattern stays in play and the downtrend continues. But if it drops to $100 and holds, that could be the floor where things stabilize—or where they completely fall apart.
Usman Salis
