Palantir Technologies Inc. holds an 8/10 SIA SMAX Score and ranks 23rd in the SIA S&P 500 Index Report. The shares have risen 10 spots in the past week, three spots in the past month, and 448 spots in the past quarter. The latest Point and Figure signal is a bullish spread double top.
Computer Software is a Favoured sector in the SIA Sector Report, ranking fourth out of 31 sectors. Palantir has returned 6.60% over the past month and 64.36% over the past quarter, compared with 0.54% and 4.95%, respectively, for the S&P 500 Index Fund (EWIIVV). Over the past year, Palantir has returned 5.07%, compared with 17.45% for the benchmark.
On the Point and Figure chart, 3-box reversal support stands at $174.56, with further support at $164.49. Resistance is at last year’s high of $208.62. If the shares break to a new high, the next indicated resistance is a measured move to $230.33.
Headquartered in Miami, Florida, Palantir specializes in big data analytics software. The company was founded in 2003 by Peter Thiel, Stephen Cohen, Joe Lonsdale, and Alex Karp. Its name comes from the palantíri, the all-seeing stones in The Lord of the Rings. Palantir’s report ranking, sector position, and technical levels provide a framework that investment advisors should consider within their own investment objectives, risk parameters, and portfolio management processes.
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