Eseandre Mordi
⬤ Palantir Technologies (PLTR) jumped on Monday, struck the upper Bollinger Band and tested the wall at $188 - 189. The stock rose from the mid-$170s in recent days and now sits at a volatility level that ended past rallies. That band often prompts profit taking because a tag of its upper edge warns that the move has stretched too far.
⬤ The chart keeps PLTR above its 20-day average while the price nears the same lid that blocked prior advances. When a stock tags that upper line, some traders sell to lock in gains before a possible retreat. One market watcher said, “I’m not taking profits while price keeps ranging,” a comment that shows the split view traders hold while the stock swings between sharp gains plus sharp drops.
⬤ The next move at this wall is critical. A clear close above the upper band would ratify the uptrend and would probably drive PLTR still higher. A failure here would set the stage for a pause or a pullback after the latest surge. Because Palantir remains one of tech's most watched names, the way it behaves around $188 - 189 will set the tone for trading in the near term.
Eseandre Mordi
