PLTR - Bullish Pennant Hovering Beneath 50-MA

jfsrevg
03-14 09:48

$Palantir Technologies Inc.(PLTR)$ - Bullish Pennant Hovering Beneath 50-MA

Came across $PLTR from Markadiusz45 portfolio update post. The relative strength here looks promising relative to not just the market, sector, but also its own industry group $iShares Expanded Tech-Software Sector ETF(IGV)$ that's currently showing leadership.

Price has been riding above the 10 vs 20-MA since beginning of march, well ahead of $Invesco QQQ(QQQ)$ and $Technology Select Sector SPDR Fund(XLK)$ . While price resisted right beneath declining 50-MA for 6th session, way ahead of $IGV distance to 50-MA.

The recent rejection at the 50-MA after the 6/3 breakout is shaping a tight consolidation, forming a pennant with major moving averages beginning to cluster—potentially setting up a launchpad for the next leg higher.

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