Is PLTR Price Correction Coming?
$Palantir Technologies Inc.(PLTR)$
From a technical perspective, there are clear signals that Palantir Technologies Inc. (PLTR) might be due for a price correction:
Relative Strength Index (RSI): Currently, PLTR's RSI is above 70, indicating it's in overbought territory. An RSI over 70 suggests that the stock may be overvalued in the short term, potentially leading to a price correction.
Moving Averages: The stock price has moved significantly above both its 50-day and 200-day moving averages, which could signal that a pullback is imminent. The distance from these averages might make the stock vulnerable to mean reversion.
Bollinger Bands: PLTR's price is trading near or above the upper Bollinger Band, which often precedes a price reversion towards the mean (middle band).
Volume Analysis: Recent trading volumes have not kept pace with the price increase, suggesting that the current price levels might not be supported by strong buying interest, increasing the likelihood of a correction.
MACD (Moving Average Convergence Divergence): If we see the MACD line crossing below the signal line or a bearish divergence where the price makes a new high but the MACD does not, these would be additional technical signs of an impending correction.
Billionaire Peter Thiel sells Palantir (PLTR.US) stock again, cashing out more than $1 billion this year
Peter Thiel, co-founder and chairman of Palantir Technologies (PLTR.US), recently sold nearly $600 million worth of company stock, bringing his total sales this year to more than $1 billion. The billionaire, through his investment firm Rivendell 7 LLC, sold more than 16 million shares of Palantir during the week, after having sold 20 million shares in March and May. Although regulatory filings did not disclose why Thiel sold the shares or how he would use the funds, the transactions underscored his confidence in the company's future. Mr. Thiel sold only Palantir's common stock, retaining shares with special voting rights, which ensured that he, along with co-founders Alex Karp and Stephen Cohen, continued control of the company's board of directors. Rivendell 7 LLC adopted a "10b5-1 rule plan" on May 15, allowing it to sell up to 28,590,737 shares by Dec. 31, 2025, according to Palantir's August filing. Thiel's most recent sale of Palantir shares was May 8-10, selling 13 million shares through a trading plan developed in December, with a total transaction volume of $273.5 million and an average selling price of $21.11 per share. Rivendell 7 still holds 62.9 million shares of Palanti after these deals
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments