If you want to invest in or buy PLTR and wonder what the right price to start accumulating PLTR is, then you are in the right place. As we go through the analysis, we will determine different patterns and how PLTR reacts to them. We will also see support and resistance, which is a good area for any instrument to buy or sell. Without any further delay, let’s dive into the Palantir price analysis and explore different opportunities arising from it.
Palantir (PLTR) Price Analysis of May 5, 2025
The Palantir price opened at $118.68, gapping up from the previous close and the day’s low of $116. The initial move formed an upward-moving channel that broke to the downside at 14:40 UTC, confirmed by a MACD Death Cross. However, the Palantir breakout lacked conviction and quickly reversed, forming another ascending channel. Price then entered a consolidation phase, moving sideways in a tight range between support at $123 and resistance at $123.70. At 18:35 UTC, a breakout above this range occurred, supported by a MACD Golden Cross, pushing the price to an intraday high of $124.40 before momentum stalled.
Chart 1: PLTR M5 Chart, Analysed by vallijat007, published on TradingView, May 5, 2025
Palantir Technologies opened the day at $118.68, which was above the previous close and the day’s low of $116, signaling a gap-up opening. The first candlestick spiked to the upside and formed an upward-moving channel. This channel broke to the downside at 14:40 UTC, supported by a Death Cross on the MACD. However, the Palantir breakout failed to follow through, and the price quickly rebounded, forming another upward-moving channel. This pattern led to a period of sideways movement, with price action consolidating into a narrow range. Support was established at $123, while resistance held firm at $123.70.
PLTR’s Critical Juncture: Can It Hold Gains or Will Profit-Taking Hit?
The Palantir price escaped the narrow range when a MACD Gold Cross signal occurred during UTC 18:35. Price surged out of the range with optimistic indications, but the market displayed weak momentum following its peak at $124.40. The buying interest remained steady throughout the day, which drove Palantir stock to close at $124.25 per share. Throughout the period, the price moved in an upward pattern but failed to demonstrate consistent breakouts and maintain support.
Future price movements for Palantir stock indicate potential upward expansion to $130 in case the current $124.40 high point gets broken by sustained high trading volume. There exists support at the $120 area for PLTR if the current consolidation range breaks down due to renewed selling pressure. The strength of approaching price movements can be assessed by traders through MACD and RSI verification signals. The momentum indicators show a bullish trend, but insufficient direction stability warns traders to stay cautious.
PLTR Tests Key Resistance: Will $124.40 Break or Reject?
The Palantir price closed the day at $124.25, solidifying a bullish bias but lacking follow-through above the intraday high of $124.40. If the price breaks above that level with volume and strong momentum, a rally toward $130 is possible. However, if consolidation breaks to the downside, price could retrace toward the $120 support zone. Momentum indicators like MACD and RSI show signs of strength but not decisiveness. With weak follow-through on breakouts, traders should look for confirmation before entering new positions. The stock appears poised for a larger move, but for now, the range remains intact, and direction is uncertain.
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