Palantir due to report earnings on Monday. It is expected to report earnings of $0.04 on revenue of $532m.

Palantir still holding up well after last quarter’s positive earnings and the AI hype. Currently trading at around $18.99 a share. We can see that the price has been setting higher highs and higher lows, whilst maintaining the support along the ascending trendline. A key support level sits right on the trendline at $16.01, though there are a couple of support levels prior to this one. There is support at $18.15 and then at $17.22, which is also on the trendline but a little higher. Both of these levels would require breaking in order to see a test of $16.01. Palantir is expected to report earnings on Monday, it will be a real test for the company to see how resilient it is to the market. Of course, if we see better than expected results, we may see further upside. Therefore, resistance sits at $19.29 then the key level and high of this year at $20.23. Over to the indicators, MACD is slightly positive and the RSI is also very much positive as it has left the ‘overbought’ territory and it now reads 64.