Palantir is an American company that develops data analysis software for organizations. In simple terms, Palantir's specialty is big data business analytics. The company's main customers are intelligence agencies, investment banks and hedge funds. Previously, the company was called the most mysterious IT startup of our time. More than half of Palantir's business is carried out through government contracts. Some investors believe that this dependence of the company's business on only a few customers is a risk factor, and Palantir recognizes this. However, such annual state contracts can also be regarded as a sign of stability. After all, there is no reason to believe that the American authorities will immediately abandon the development of Palantir. The US government is still the company's biggest customer.
From a technical point of view, Palantir shares are pushing back from the support area, which is located at the level of 22 dollars and 50 cents. This level was tested by the bears several times last year and there was also an attempt to break down in March of this year. In the first few weeks of trading after last year's IPO, there was no strong growth in the share price, but later the price was able to test the maximum at $45 per share. The current drop occurs within the descending channel, as soon as the quotes can rise above the $27 level, we can talk about the end of the downward correction. In this case, the target of the rise will be the level of $33. Already with the breakdown of the downward trend line on the RSI indicator, we can consider the price rise to the local maximum at $45 per share, is this not the best solution for the question of Where to invest money in 2021?
From a technical point of view, Palantir shares are pushing back from the support area, which is located at the level of 22 dollars and 50 cents. This level was tested by the bears several times last year and there was also an attempt to break down in March of this year. In the first few weeks of trading after last year's IPO, there was no strong growth in the share price, but later the price was able to test the maximum at $45 per share. The current drop occurs within the descending channel, as soon as the quotes can rise above the $27 level, we can talk about the end of the downward correction. In this case, the target of the rise will be the level of $33. Already with the breakdown of the downward trend line on the RSI indicator, we can consider the price rise to the local maximum at $45 per share, is this not the best solution for the question of Where to invest money in 2021?