PLTR Trade UpdatePalantir Technologies Inc. Class ABATS:PLTRErictaylorPLTR is currently trading within a larger timeframe falling channel, characterized by lower highs while still maintaining higher lows—showing a mix of bearish pressure with underlying support holding up for now. I previously discussed a potential short setup around the $150–$155 zone, which aligned with key resistance. With recent news, price pushed up into $155, tapping the upper boundary of the downtrend. From there, we saw a swift rejection, confirming that area as strong resistance. ⸻ Recent Price Action Following the rejection, PLTR: •Broke below multiple support levels •$150.50 •$146.50 •$142 (key Fib level) This aggressive move down shows strong selling pressure in the short term. However, price has now reached a key uptrend support line, which has consistently acted as a bounce zone on prior tests (as marked by multiple touches). ⸻ Current Structure •Trend Resistance: $150–155 •Reclaim Levels: $142 → $146–147 •Key Support: ~$139 •Major Supports Below: $136 → $107 ⸻ Bullish Scenario If PLTR can: •Hold above $139 •Reclaim $142 and establish it as support 👉 This could shift the structure slightly bullish in the short term. The safest long entry would be a reclaim and hold of the $146–147 area, confirming strength and potential for continuation. If momentum builds: •A move back toward $150 is likely •A reclaim of $150 could open the door for a retest of $155 This would likely take time to develop rather than happening immediately. ⸻ Bearish Scenario If PLTR: •Fails to hold $139 •Breaks below the uptrend support 👉 Then the structure weakens significantly, and continuation lower becomes more likely. Downside targets: •$136 (next major support) •$107 (larger timeframe support) ⸻ Key Takeaway PLTR is at a critical inflection point: •Holding current support + reclaiming levels → potential short-term bounce and structure shift •Losing support → continuation of the broader downtrend This is a wait-for-confirmation setup, not one to anticipate early. Let price prove direction before committing