7.5 target done, lets see if it holds else may see 5 area.
digital_precision
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What you have there is a falling wedge. It's a bullish pattern and can indicate an impending reversal. A lot will depend on how Mr. Market thinks their Monday premarket earnings report looks, because that could be a great catalyst for a rebound. Remember....the Russian war is actually not a bad thing for a company such as Palantir. As governments around the world realize war is still a thing they will definitely need analytics..... the type Palantir excels at. They are very unique and so long as the insider selling/stock compensation remains low they will bounce. Stock dilution and stock based compensation was their real problem for the past year, but in Q1 2022 it all but disappeared. They originally had about a billion shares when they went to get publicly listed. Theyve had that number DOUBLED as locked up insider shares are sold on the open market, which effectively dilutes the value of the existing shares.
Don't be at all surprised if they bottom very soon, but wait for a breakout of the pattern before getting in as this thing has burned many investors/traders, me included.