stock has surged more than 21% on Thursday following its Q3 earnings beat. Revenue and adjusted earnings in the quarter both beat consensus by a slight margin. Q4 outlook entices traders as revenue forecast is raised to a midpoint above $600 million. The artificial intelligence platform company grew its customer base by 34% from a year ago.
stock began experiencing resistance back in mid-October. A close above this $18 level will give bulls the chance of retesting the $20.24 from August 1. Previous to August 1, Palantir stock last reached that level in December of 2021 during the covid rally. stock is still technically in a downtrend until the 9-day Simple Moving Average breaks above the 21-day SMA. At the moment, there is a $1 space between the moving averages. Since June, the $13.50 to $14 region has acted as strong support, so traders should not expect a decline below that price band in the near future.
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Source: MarketWatch - 🏆 3. / 97 Read more »