Palantir (PLTR) Slams Into A 3 Factor Resistance, Pullback Likely
Following a strong resurgence, Palantir (PLTR) stock has regained significant bullish momentum, evidenced by a 26% gain over the past week and a 70% surge from its April 9th, 2025 low. Despite this impressive run, technical indicators suggest potential headwinds are emerging.
As of Friday, April 25th, Palantir's price action around $113 has run into a confluence of critical resistance levels:
- Gap Fill: The stock closed a price gap left open since the February 19th trading session.
- Trendline Resistance: PLTR is testing (within 1%) an upward-sloping trendline established by connecting the early 2025 pivot low with the March pivot high.
- Fibonacci Retracement: The price also tagged the 78.6% Fibonacci retracement level, a significant marker derived from its prior all-time high down to its major low.
The simultaneous alignment of these three technical resistance factors heightens the likelihood that Palantir may experience a pullback in the coming days or weeks. A potential target for such a retracement could be the $98 level, implying a possible 13% downside from Friday's $113 price and signaling a potential setup for short-term bearish traders.
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