Palantir Technologies Inc (PLTR) stock fell in its recent intraday trading, closing at the sessions lowest level, breaking below support at its 50-day simple moving average, which exposes it to further negative pressure in the near term, as the short-term corrective downward trend remains dominant, moving alongside a supporting trend line, in addition to negative signals from the Relative Strength Index.

Therefore we expect the stock price to decline in the coming trading sessions, as long as it remains below the resistance level at $161.00, targeting the key support level at $128.00.

Todays price forecast: Bearish