Palantir tests key support as higher yields and jobs data challenge rally

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Mykhailo Ihnatenko

29.09.2026

Palantir tests key support as higher yields and jobs data challenge rally — Rising yields and jobs data put Palantir’s recent gains under pressure

Palantir is heading into the end of the week with an unusual combination of strong price momentum and a deteriorating external backdrop. After the recent surge, attention is shifting to how well demand for the stock can hold up as bond yields rise and key macroeconomic data approach.

PLTR price prediction

24H 0.6%

$196.72

48H 0.13%

$195.79

7D 0.59%

$196.7

1M 3.19%

$201.77

3M -6.55%

$182.73

6M -19%

$158.38

12M 0.34%

$196.2

Detailed

Current price: $195.54 -1.2700 0.65%

Closed 10/29

Daily range 190.37

198.51

Weekly range 190.37

201.68

Goldman Sachs reiterated its Neutral rating on Palantir and maintained a $204 price target following a meeting with CFO Dave Glazer. The bank noted that Palantir’s years of experience with forward-deployed engineers and its ability to turn customer-specific solutions into reusable software remain difficult for competitors to replicate. At the same time, Goldman continues to monitor the depth of the company’s potential market and the competitive landscape.

Mixed sentiment across the technology sector remains another risk for Palantir. The Nasdaq Composite fell about 0.9% on September 28 as rising oil prices and U.S. Treasury yields increased pressure on equities. The 10-year Treasury yield later climbed above 5.27%, its highest level in roughly 19 years. Such an environment is particularly challenging for companies trading at high valuation multiples, as higher risk-free rates raise the return investors demand from equities.

Failure to reclaim $188 could extend correction toward $180

PLTR shares fully played out the bullish scenario outlined earlier. The stock reached the $188 target and continued higher, testing $194.68 before pulling back by roughly 4.5%.

For today’s session, the $187–$188 area is the key zone to watch. If the stock fails to establish itself above that range, the correction could extend toward $183–$180.

An opening above $188 during the regular session, followed by a sustained hold of that level, could trigger another acceleration toward $200.

Labor market data puts tech sentiment under another test

The next potential catalyst will be the U.S. labor market report on Friday, October 2. The BLS will release September nonfarm payrolls and the unemployment rate. The previous report showed employment rising by 162,000 in August, while the unemployment rate stood at 4.1%.

For PLTR, that creates the potential for increased volatility toward the end of the week. Strong data could reinforce expectations for tighter Fed policy and keep upward pressure on Treasury yields, while a weaker report could ease some of the strain in the bond market.

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