TradingKey – Palantir (NASDAQ: PLTR) has bounced off its uptrend line on the four-hour time frame, as buyers hold the support. The Relative Strength Index (RSI) sits at 61 showing positive momentum but not overbought conditions. The stock, which is down approx 29% YTD and 39% from its 52-week high of $207.52, recently drew investors’ attention back following a series of developments on the back of July 1, Palantir partnering with Nvidia for an AI deal to deploy Nemotron AI in sovereign governments, short seller Michael Burry lowering his short position, and President Donald Trump owning at least $1 million shares of the company while revealing he added more to his holding. 

Additionally, DA Davidson upgraded the stock to Buy setting a…