Peter Smith
⬤ Palantir Technologies (PLTR) continued to rise after it escaped a falling wedge pattern that had shaped its recent decline. The sharp rebound has now carried the share price straight into major resistance, because the price has returned to its former long term uptrend line. PLTR traded near $181.76 extending its steep recovery into early December.
⬤ The chart shows that PLTR regained the key horizontal support zone around $172.41 and moved clearly above the upper edge of the wedge, which points to stronger short term momentum. The rally accelerated quickly and produced a gain of more than 23 percent in only a few sessions. At present the price has reached the underside of the former rising trend line that once gave firm support. The main question on the chart is whether the stock still has enough strength left after such a rapid advance.
⬤ The recent breakout appears technically sound for short term traders - yet longer term investors may view this bounce as only one phase of a larger corrective move. The chart illustrates the conflict clearly - although the wedge breakout and the recovery of support are positive, the trend line retest is a genuine barrier. If the stock fails to move past this level, the earlier breakdown could still dominate, particularly after such a swift rally.
⬤ The action at this retested trend line will probably determine PLTR's next step. A clear move above resistance could drive further gains into early 2026. If the price cannot advance, fresh weakness may appear and doubts about the rally's durability may resurface. Because PLTR now stands at a decisive point, traders are watching closely to see how the stock handles this critical test.
Peter Smith
