You're exactly right, it is indeed oversold. Look at both the daily AND weekly and you'll see the RSI is oversold (under 30) for both of them. The weekly one is very important and it only recently went into oversold on this , which may explain the recent bounce. It is still very much going to move in tandem with the larger QQQ, but may outpace the index on the way up. With that being said, I expect QQQ to turn back down.....and Palantir will likely move with it. You won't get your bounce to $18 yet, but it will come..... we'll just have to wait until the next bull market takes hold, in all likelihood. I hope I am wrong. The upcoming earnings report is VERY important, and a solid earnings report would go a long ways in validating Palantir's price moving up.
Tristan73
⋅
Looks like double bottom, bull flag with good volume also...