Key Takeaways
- Palantir shares closed at a record high on Tuesday after the data analytics software provider posted quarterly revenue that surpassed $1 billion for the first time and raised its full-year outlook, driven by robust demand for its AI platform.
- The stock broke out above the top trendline of a rising wedge pattern in Tuesday’s trading session, indicating strong price momentum.
- The measured move technique projects an upside price target of $201.30. Investors should also watch crucial support levels on Palantir’s chart around $148, $125 and $98.
Palantir Technologies (PLTR) shares jumped Tuesday after the data analytics software provider raised its full-year outlook amid booming demand for its AI platform.
