Palantir's Stock Takes A Hit: Will AIPCon And Defense Deals Be The Comeback Catalyst?

Palantir Technologies Inc PLTR has been on a wild ride – up 215.99% over the past year, but down 33.51% in just the last month. The stock is now stuck below its key moving averages, flashing strong bearish signals.

Can the upcoming AIPCon and a wave of high-profile deals set PLTR up for a turnaround?

Is PLTR Stock Facing A Technical Knockout?

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PLTR stock, at $78.05, is trading below its five, 20 and 50-day exponential moving averages, signaling continued selling pressure. The eight-day simple moving average (SMA) at $81.98, 20-day SMA at $94.60 and 50-day SMA at $86.96 all suggest the stock is still in bearish territory.

However, the 200-day SMA at $51.95 paints a different picture, hinting at longer-term strength.

Momentum indicators aren't helping the bulls either. The MACD at a negative 3.95 is firmly bearish, while the RSI at 39.82 signals PLTR stock isn't quite oversold yet.

Read Also: Palantir Calls For ‘Software-First Approach’ As Pentagon Spends Under 1% On Modern Warfare

AIPCon & New Deals: Can They Break The Trend?

Palantir is gearing up for its sixth AIPCon on March 13, where it will showcase new AI-driven partnerships.

Big-name customers like Heineken NV HEINY, Walgreens Boots Alliance Inc WBA and AT&T Inc T are on board, while fresh government contracts, including a $178 million defense deal for mobile battle stations, keep rolling in.

On the tech front, Palantir is strengthening its grip in autonomous drones (Ondas Holdings partnership) and space security (Voyager Technologies collaboration).

But will these be enough to shift sentiment?

Long-Term Bulls Vs. Short-Term Bears

Despite its expanding influence, Palantir's stock is stuck in a bearish trend. AIPCon could provide the narrative boost bulls need, but the technicals suggest caution.

For now, the stock remains a battleground between long-term believers and short-term skeptics.

Will Palantir stock break free from this slump or is the AI hype cooling off?

Investors will be watching closely.

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