Palantir Technologies (PLTR) shares jumped in extended trading on Monday after the data analytics company topped Wall Street’s quarterly estimates and 澳洲幸运5官方开奖结果体彩网:raised its full-year outlook amid strong demand for its 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) software services.

The shares have gained more than 40% since the start of the year, benefiting from a growing number of enterprise customers turning t🌃o the Colorado-based company’s AI platform to test, debug, and evaluate AI-relat꧙ed systems.

Palantir shares rose 12% to $27.02 in after-hours trad♈ing Mondday.

Below, we take a closer look at Palantir’s 澳洲幸运5官方开奖结果体彩网:technicals and identify important price levels to watch out for following the company’s expe෴cted post꧟-earnings move.

Pre-Earnings Reversal

Palantir shares have trended steadily higher since carving out an 澳洲幸运5官方开奖结果体彩网:inverse head and shoulders pattern between September 2022 and May last year. Although the stock has recently undergone a pullback, buyers stepped in to defend the price around the 200-day moving average and the April 澳洲幸运5官方开奖结果体彩网:swing low ahead of the company’s quarterly results.

While the shares weren’t immune to Monday’s sell-off, they staged an impressive intraday reversal on the highest 澳洲幸运5官方开奖结果体彩网:trading volume since early May to close towards their high of the day after in༺itially opening 12% lower, indicating larger market 🎶participants may have anticipated a big earnings-driven move.

Monitor These Price Levels Amid Pos𒅌t-Earnings Buying

Looking ahead, investors should monitor these key chart areaꦅs where Palantir shares could face selling pressure amid a post-earnings pop.

The first sits between $27 and $29, a location where the shares could run into a 澳洲幸运5官方开奖结果体彩网:zone of resistance from two trendlines connecting multiple 澳洲幸运5官方开奖结果体彩网:swing highs extending as far back as December 2020.

A close above this level could see a move up to the $39 level, an area where sellers may be happy to 澳洲幸运5官方开奖结果体彩网:lock in profits near the Februar🔯y 2021 swing high, which formed꧃ at the start of a two-year down trending period in the stock between 2021 and 2023.

A more bullish move may lead to a retest of the $45 region, where the price would likely encounter resistance around its 澳洲幸运5官方开奖结果体彩网:record high set-in late January 2021.

Finally, we can forecast a target above the 澳洲幸运5官方开奖结果体彩网:all-time high (ATH) using a bars pattern by analyzing prior trending moves in the stock. In this case, if we extract the bullish period from May to August last year and apply it from the April swing low, we can project a 澳洲幸运5官方开奖结果体彩网:price target of around $50.50.

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