Palantir Surprises Analysts: Technical Levels To Watch

Palantir Technologies Inc. PLTR bulls are celebrating Thursday. The company updated its guidance and it surprised even some of the most optimistic analysts.

Palantir now expects 2021 adjusted free cash flow to be over $300 million. This is twice the previous estimate of $150 million.

If the shares continue to rally, there’s a chance the stock will run into resistance around $27.35. This is where it hit resistance in late June, and sometimes resistance levels can repeat themselves.

There may be sellers who couldn’t complete their orders at $27.35 and are still patiently waiting to do so. There could also be professional traders who see a clearly defined level and want to profit. These pros will be selling because they’ll be anticipating another move lower if PLTR can’t break through.

The resistance created by these sellers could pause or halt the rally.

See also: How to Buy Palantir Technologies (PLTR) Stock