Chart of the Day: PLTR Upgrade

Core Viewpoint - The stock of Palantir has experienced a slight upward movement despite a reduction in its price target, indicating mixed market sentiment and potential for future price recovery [1][2]. Short-Term Analysis - The stock has shown positive momentum after bouncing from a support level around 128, although the upward movement has been described as "less than awesome" [2][4]. - A volume gap identified in the volume profile suggests potential for the stock price to rise back towards the 158 resistance area [3][4]. Long-Term Analysis - A significant head and shoulders reversal pattern has been observed, with the price target previously set around 200 but now lowered to 180 [5][6]. - The break of the 158 support level, which served as the neckline of the reversal pattern, led to a drop to 128, but the stock has since rallied back, indicating a possible completion of the bearish reversal pattern [6][7]. - Technical analysis suggests that the measured move from 158 to 128 may be nearing its limit, with the RSI indicating a potential reversal [6][7].