Anyone who denies the meteoric ascent of Palantir Technologies Inc. (NASDAQ:PLTR) is simply choosing to ignore the charts. Since making its public market debut in October 2020, the big-data analytics specialist — which serves multiple government and defense-related agencies — has made its mark. At the same time, PLTR stock isn't invincible, losing more than 9% during Tuesday's tech sector selloff. It raises the question: where will PLTR head next?
When looking at the big picture, it's difficult not to lend enormous credence to the bullish side of the spectrum. Since the start of this year, PLTR stock has gained over 106%. Over the past 52 weeks, it has returned a remarkable 379%. By practically every commonly monitored technical gauge, the long-term price discovery process appears robust.
