30 in October to around $184. The decline has coincided with a broader sell-off in technology stocks as investors reassess valuations across the sector.
Despite the recent pullback, Palantir has formed a highly bullish cup-and-handle pattern, pointing to a potential rebound after its third-quarter earnings report. Palantir Earnings to Show Continued Growth Palantir Technologies will publish its third-quarter results, and analysts expect them to show that its growth surged as companies embraced its technology.
41. There is a high probability that the company’s revenue and earnings will be higher than expected, as it has done in most quarters since going public.
The most recent results showed that Palantir’s earnings continued to do well, with its US revenue rising by 115% and its US commercial revenue rising by 149%. Read Also: Anthropic IPO Faces Real Risk as AI Bubble Fears Linger and Blackstone Sounds a Warning The options market suggests that the stock has higher chances of rising after its earnings.
93, suggesting that there are more calls than puts. The option string shows that most of the calls are concentrated at $195, suggesting a 6% jump from the current level.
Most of the puts are at $185. However, there is a likelihood that the stock will see a big jump or fall after its earnings.
For example, ServiceNow (NASDAQ:NOW) stock dropped by nearly 25% after its earnings. Intel (NASDAQ:INTC) also fell by over 22%, while Reddit tumbled by 30%.
Palantir Stock Price Technical Analysis PLTR stock chart | Source: TradingView The daily chart shows that the PLTR stock bottomed out at $105 and then started a slow upward trend, reaching a record high of $212 on October 12. This recovery was part of the cup-and-handle pattern, a common continuation sign.
Palantir has remained above the 50-day and 200-day Exponential Moving Averages (EMA) and the Strong pivot reverse level of the Murrey Math Lines too.
