Palantir (PLTR) Stock Analysis | Bearish Harmonic Pattern | Key Palantir Technologies Inc. Class ABATS:PLTRinvestorsedge07PLTR remains in a long-term bullish trend, but the stock has entered a corrective phase after failing to make a new all-time high. The recent decline suggests that sellers are currently in control, and the stock is trading below its major trendline resistance. One of the most important observations on this chart is the bearish harmonic pattern, which completed near the all-time high around the $200 level. After the pattern completed, the stock reversed sharply, confirming the bearish setup and triggering the current correction. Price is now trading around $107 and has broken below the 21-week EMA, indicating that short-term momentum has turned bearish. Looking at the trendline, PLTR continues to respect a descending resistance line. As long as the stock remains below this trendline, buyers may continue to face selling pressure on every rally. Now let's discuss the key demand and supply zones. The first major demand zone is located between $70 and $80. This area also aligns with the harmonic pattern's D-point, making it a strong support zone where buyers could step back into the market. If this support fails to hold, the next long-term demand zone is around $50 to $60. This would be the final major support before the broader bullish trend comes under serious pressure. On the upside, the first supply zone is located between $145 and $160. If PLTR starts recovering, this area could act as strong resistance. A second and much stronger supply zone lies between $180 and $200, where the bearish harmonic pattern was completed. This remains the key resistance area for the long-term trend. Looking at the RSI, the indicator has dropped below the 50 level, confirming weakening bullish momentum. Unless RSI starts recovering, the stock may remain under pressure in the coming weeks. Trading outlook: As long as PLTR stays below the descending trendline, the overall short-term bias remains bearish. A weekly close below the $100 psychological level could increase selling pressure and push the stock toward the $80 demand zone. However, if buyers successfully defend the demand area and the stock breaks above the descending trendline, PLTR could begin a fresh bullish rally toward the $150 resistance zone. Overall, the long-term trend is still positive, but the current correction is not yet complete. Traders should closely monitor the $100 support level and wait for confirmation before entering new positions. If you enjoyed this analysis, don't forget to Like, Share, and Subscribe to Investors Edge for daily US stock market analysis.