After a torrid, post-earnings run, Palantir Technologies Inc. is back in focus as HSBC turns more constructive on the name—citing faster AIP adoption, a broadening commercial pipeline, and improving unit economics. Yet despite the upgrade and upbeat guidance, the stock is trading lower today as investors digest stretched near-term valuations and unwind momentum-heavy positions. The session’s gap-down open, failed retest, and steady slide into the European evening frame a market asking one question: can Palantir’s execution outpace the bar its own rally just set?
Snapshot – Palantir Stock
- Last: $140.41 (≈−11.1% vs. prior close)
- Open: $155.35 | High: $157.39 | Low: $139.67
- Prior close: ~$157.88 (implied)
- Volume (so far): ~45.7M shares (as of 17:07 CET)
What happened intraday
- Gap-down start, quick retest fail. Shares opened ~1.6% below the prior close and briefly pushed toward $157 in the opening rotation, but couldn’t reclaim yesterday’s mark near $157.9—a classic failed backtest that flipped momentum lower.
- Trend day lower. After the first half-hour, the tape moved in orderly, lower-high waves: supply showed up near round numbers ($155 → $150 → $145), with each bounce stalling earlier than the last.
- New session low, stabilization attempt. The slide extended to $139.67, where dip-buyers emerged around the $140 handle. From there, action flattened into a tight churn just above the lows as participants awaited late-day flows.
Texture of the move
- Range & volatility. Peak-to-trough span of $17.72 (about 11% of the session’s high) underscores an elevated-volatility day dominated by momentum sellers and short-term funds trading the levels.
- Psychological pivots. The stock respected round numbers: $150 acted as intraday supply after the morning fade; $140 is the line the bulls are trying to defend into the close.
- Positioning unwind. Price action looks like de-risking after a multi-day run—more about positioning and valuation friction than a discrete, midday headline shock.
Key levels into the close (and for tomorrow)
- $157–158: Prior close / morning rejection zone. A decisive reclaim would be the first step toward repairing trend damage.
- $150: Former support turned resistance; intraday sellers leaned here—watch for supply on any bounce.
- $139–140: Session low and current battleground. A break and hold below opens room toward the mid-$130s.
- $145: A practical bar for near-term stabilization; repeated closes above would signal sellers losing grip.
What I’m watching next
- Closing character: Does PLTR finish above the day’s VWAP proxy (roughly mid-range) or pinned at the lows? The latter would keep pressure on the open tomorrow.
- Late-day volume skew: A sell-imbalance would confirm risk-off; a buy-imbalance flip could spark a reflex rally toward $145–$147.
- Peer tone: Any after-hours moves in AI/software peers could reset the opening gap dynamics for the next session.
Bottom line for Palantir
It’s a trend-down session: a gap-down open, failed attempt to reclaim the prior close, and a persistent bleed to fresh lows before stabilizing near $140. Until buyers can retake $150 (and ultimately $157–158), momentum favors sellers and the path of least resistance remains lower on rallies.
FAQ for Palantir
Did Palantir trade green at any point today?
No. The intraday high ($157.39) stayed below the prior close (~$157.88), so shares remained negative all session.
How big was the drawdown from the open to the low?
Roughly $15.68 (~10.1%) from $155.35 to $139.67.
What would improve Palantir’s near-term setup?
A close or early-tomorrow push back above $145, followed by a clean reclaim of $150 with shrinking downside volume. A later move through $157–158 would be confirmation the trend is repairing.
Disclaimer
This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. Trading and investing involve risk, including the possible loss of principal. Consider your objectives, financial situation, and risk tolerance before making investment decisions.
