Palantir stock holds bullish setup despite Treasury yield pressure

Palantir stock holds bullish setup despite Treasury yield pressure
Palantir stays bullish as Treasury pressure builds

​Palantir is maintaining its short-term bullish momentum, but the backdrop for growth stocks is becoming more challenging. The next few sessions will show whether the technical structure can withstand mounting pressure from higher rates.

PLTR price prediction
24H -2.22%
$161.52
48H -2.82%
$160.53
7D -2.88%
$160.43
1M -23.55%
$126.29
3M -38.02%
$102.38
6M -45.9%
$89.37
12M -29.83%
$115.92
Current price: $165.19 4.79 2.99%
Real-time Data 09:41
Daily range 159.36 Arrow from to Icon 162.43
Weekly range 153.09 Arrow from to Icon 177.35
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The UK Financial Conduct Authority said its short-term contract with Palantir for technology aimed at combating financial crime has ended and was not renewed.

Importantly, the agreement was never intended to be long term. FCA officials had previously described the project as a 12-week proof of concept, under which Palantir was given access only to data that the regulator itself transferred into the project’s controlled infrastructure.

At the same time, the external backdrop for PLTR is becoming more challenging. On October 7, the 30-year U.S. Treasury yield briefly climbed to 5.7041%, reaching its highest level in 24 years. The rise in yields comes amid a renewed global bond selloff driven by concerns over inflation and government debt, alongside another increase in oil prices.

Higher long-term rates create a less favorable environment for richly valued growth stocks such as Palantir.

Palantir keeps $200 in focus while $188 support holds

PLTR continues to follow the scenario outlined earlier. After defending the key $188 support level, the stock is still moving toward the $200 target.

The only major technical obstacle on the way is resistance at $195. Since September 24, the price has made several attempts to break through this level, but has yet to establish a sustained move above it.

The current setup would be invalidated by a break and sustained move below $188. In that case, attention would shift toward support near $180.

Palantir keeps its bullish setup as macro pressure builds

Palantir continues to hold its bullish technical structure, but the end of the FCA project and the sharp rise in long-term Treasury yields leave little room to ignore the growing risks.

As long as $188 holds as support, the path toward $200 remains open. Before that move can develop further, however, PLTR still needs to clear the key $195 resistance level.

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