Palantir shares hit a record high last week after reporting a strong 2025 outlook and integrating Grok with its AI platform. Analysts have raised their price targets on the stock, fueling the recent price rise.
The company’s upbeat results have led to significant gains, with its stock soaring nearly 50% higher since the start of the year. Over the past 12 months, Palantir shares have returned an impressive 370%.
According to technical analysis, Palantir staged a decisive breakout above a rectangle formation last week, driven by strong buying conviction from larger market participants. The relative strength index (RSI) confirms bullish price momentum, but also flashes overbought conditions.
A longer-term bullish continuation move is forecasted using bars pattern analysis. This technique analyzes prior trends to speculate future directional movements. According to the analysis, a target of around $240 is expected, indicating the uptrend could last until November this year.
Key support levels to watch are the $85 and $66 levels, which may attract buying interest during pullbacks. Investors should be cautious of selling below these levels, as it could lead to Palantir shares revisiting lower support.
As Palantir’s stock continues to gain traction, investors will likely remain in focus on Monday. The company’s strong 2025 outlook and integration of Grok with its AI platform have created optimism around its prospects.
Source: https://www.investopedia.com/palantir-stock-surged-to-a-new-record-last-week-watch-these-key-price-levels-8788701