Palantir shares jumped more than 6% Tuesday to a record high following bullish commentary from Ark Invest, which pointed out that the analytics software provider could have further potential upside from the AI boom.
After breaking out above an ascending triangle in early July, the stock has continued to trend higher apart from a brief early-August correction, with gains accelerating last month after the software vendor’s inclusion into the S&P 500 index.
During retracements, investors should watch important support levels on Palantir’s chart around $32.70, $29, and $25.50.
A bars pattern, which extracts Palantir’s trend higher from May to August last year and positions it from the early-August low, forecasts a potential…
