PLTR: Descending Channel Measured Move Targets $200Palantir Technologies Inc. Class ABATS:PLTRtimothysmith78Shares in analytics software maker Palantir Technologies (PLTR) popped 17% ahead of Tuesday's opening bell after the company posted second quarter results that sailed past Wall Street expectations, boosted by a surge in commercial revenue. The AI darling also lifted its annual revenue forecast, driven by steady demand for its AI-powered analytics software. Taking a closer look at Palantir's technicals, the shares have trended lower this year within a descending triangle, a chart pattern that can lead to a bullish trend reversal upon a decisive volume-backed breakout. Indeed, the stock looks set to open toward the channel's top trendline on Tuesday, following the company's better-than-expected quarterly report. Traders can project a bullish price target using the measured move technique. To apply the analysis, we measure the distance between the descending channel's two trendline in points and add that amount to the pattern's top trendline. This forecasts a target of $200 ($50 + $150), indicating nearly 60% upside from Monday's closing price.