Palantir shares jumped Tuesday after the analytics software provider announced that its entire product suite has received approval for use in processing sensitive federal workloads, positioning the firm to provide an array of services to government entities.
Since breaking out from a pennant last week, Palantir shares have continued to trend higher, with gains accelerating following Tuesday’s news.
While the relative strength index confirms bullish price momentum above the 70 threshold, the indicator also flashes overbought conditions that could lead to short-term profit-taking.
The measuring principle, which calculates the distance of the impulsive trend that preceded the pennant and adds that amount to the pattern’s upper…
