As of May 22, 2026, PLTR (Palantir Technologies Inc.) is in a downtrend state on the weekly chart, with a confidence level of 68%. Key support is at $130 and key resistance at $150. Weekly PLTR at $136.84 is making LH/LL since the ~$195 peak; price sits below EMA50 ($143.95) and below SMA50 ($158.80) with RSI-14 ~44 (weak momentum), while still above EMA100 ($119.72).
Base-build / corrective chop: hold $130-$120 zone (near EMA100 $119.72) and attempt a rebound to retest EMA50/SMA50 supply; this would be consistent with an Elliott Wave corrective phase (likely Wave 4 / complex ABC) after a strong impulsive run into ~$195.
Trend continuation down: lose $130 support, then a deeper fib-style retracement of the prior major advance plays out toward the next confluence supports (EMA100 then prior structure), with sellers defending any bounce back into $140-$150.
Weekly close below $130 would confirm continuation downside toward the next demand zone
Two weekly closes back above $150 would invalidate the current downdrift and favor a reversal attempt
Start/add zones cluster around EMA100 ($119.72) and prior weekly structure; heavy add aligns with deeper retrace/old consolidation support if $130 breaks.
Trims are set at prior supply (SMA50/overhead congestion) and the former blow-off top area; full close only if price becomes clearly stretched beyond the prior peak zone.
As of May 22, 2026, PLTR (Palantir Technologies Inc.) is in a downtrend state on the weekly chart with 68% confidence. Weekly PLTR at $136.84 is making LH/LL since the ~$195 peak; price sits below EMA50 ($143.95) and below SMA50 ($158.80) with RSI-14 ~44 (weak momentum), while still above EMA100 ($119.72).
On the weekly timeframe, PLTR has key support at $130 and key resistance at $150. The most likely scenario (bullish) targets $150 and $160, with a revert level at $140.
PLTR (Palantir Technologies Inc.) is currently classified as downtrend on the weekly chart, with 68% confidence. Confirmation requires: Weekly close below $130 would confirm continuation downside toward the next demand zone This would be invalidated by: Two weekly closes back above $150 would invalidate the current downdrift and favor a reversal attempt
The most likely scenario (bullish) targets $150 and $160, with a revert level at $140. The alternative scenario (bearish) targets $120 and $105.
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