Is Palantir (PLTR) Entering a Consolidation Phase? A Technical aPalantir Technologies Inc.BATS:PLTRmrifkidrnTechnical Analysis: Palantir Technologies (PLTR) Amid Overbought Signals and Valuation Gaps Palantir Technologies Inc. (NASDAQ: PLTR) has experienced significant volatility in recent sessions, reflecting growing uncertainty among investors regarding its valuation and technical positioning. The stock closed at $173.07, down by 7.47%, after testing its resistance area near $186. Both daily and weekly technical indicators are now suggesting that a potential short-term correction could be underway. Weekly Chart Outlook: Approaching Resistance After a Prolonged Rally From the weekly timeframe, PLTR has been trending upward since early April, supported by consistent higher lows and strong momentum in the technology sector. The recent breakout above the $160–$165 zone confirmed bullish sentiment, but the latest candlestick formation shows rejection near $186, indicating profit-taking pressure. The Stochastic RSI on the weekly chart is hovering in the overbought zone, signaling that the rally may be losing strength. While this does not necessarily imply an immediate reversal, it often precedes a consolidation phase or a short-term pullback. Volume patterns also show a slight decline compared to the early phase of the uptrend, reinforcing the possibility of slowing momentum. Additionally, the price is now slightly extended from its key moving averages, suggesting that any correction toward the $160–$165 support zone would still maintain the longer-term bullish structure. Daily Chart Confirmation: Stochastic RSI and MACD Turning Cautious Read full analysis on my website : darrismanresearch com