Palantir Technologies (PLTR) raised its full-year outlook but disappointed investors with 澳洲幸运5官方开奖结果体彩网:mostly in-line quarterly results, sending shares in the analytics software provider sharply lower in extended trading on Monday.

The company reported first-quarter revenue of $884 million, up 39% year-over-year and above the analyst consensus. Adjusted earnings per share of 13 cents, rose from 8 cents per share a year earlier, in line with Wall Street’s estimates. Investors may have been looking for more, after the AI darling posted blowout results in February and November.

Ahead of today’s highly anticipated earnings report, Palantir shares were up 64% since the start of the year and had soared more than five-fold 𒈔over the past 12 months. The stock has🐓 been boosted by optimism that the software maker would benefit from increasing enterprise AI deployments and federal initiatives to improve government efficiency. 

The stไock fell more than 9% to $112.32 in aft♊er-hours trading.

Below, we take a closer look at Palantir’s chart and use 澳洲幸运5官方开奖结果体彩网:technical analysis to identify major price levels that investors♐ will likely be watching.

Potential Double Top

After setting their record high in mid-February, Palantir shares consolidated within a 澳洲幸运5官方开奖结果体彩网:falling wedge before breaking out above the pattern last mont♒h.

More recently, the stock has rallied to its highest level since mid-February but found significant selling pressure around its record high as the 澳洲幸运5官方开奖结果体彩网:relative strength index (RSI) crossed into overbought territory.

Indeed, the stock looks set to continue its retreat from this important 澳洲幸运5官方开奖结果体彩网:technical location on Tuesday, possibly forming a 澳洲幸运5官方开奖结果体彩网:double top pattern in the process.

Let’s identify three major 澳洲幸运5官方开奖结果体彩网:support levels on Palantir’s chart wort✤h watching🔯 and also locate a key overhead area to monitor during potential upswings.

Crucial Support Levels Worth Watching

Amid earnings-driven selling, it's initially worth watching the $97 level. This area on the chart, currently positioned slightly above the 澳洲幸运5官方开奖结果体彩网:50-day moving average, could attract buying interest near a brief period of consolidation following the initial breakout from the falling wedge pattern and the late-March 澳洲幸运5官方开奖结果体彩网:countertrend high.

A decisive close below this level could see the shares fall to around $83. Investors may seek 澳洲幸运5官方开奖结果体彩网:entry points at this location near a trendline that connects last year’s prominent December peak and a brief period of 澳洲幸运5官方开奖结果体彩网:sideways drift that preceded the stock’s early-February 澳洲幸运5官方开奖结果体彩网:breakaway gap.

A more significant 澳洲幸运5官方开奖结果体彩网:retracement opens the door for selling down to the $66 level. The shares would likely attract support in this region on the chart near the closely watched 澳洲幸运5官方开奖结果体彩网:200-day moving average and last month’s 澳洲幸运5官方开奖结果体彩网:swing low, which also closely aligns with the January troughཧ and🌼 a minor peak in mid November.

Key Overhead Area to Monitor

Finally, during upswings in Palantir shares, investors should monitor key overhead 澳洲幸运5官方开奖结果体彩网:resistance around $125. This level, c🥃urrently situated just above Monday's close, will likely attract significant attention near the May high and the prominent February peak, which also marks the sto💞ck’s record high.

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As of the date this article was written, the author does not own any of the above securities.