5:22 PM · 2 December 2020

Palantir stock plunged 12% after analyst downgrade

Palantir
Stocks
PLTR.US, Palantir Technologies Inc - class A
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Palantir Technologies (PLTR.US) shares fell more than 12% after Morgan Stanley analyst downgraded software company's stock to “underweight” from “equal weight,” noting that “the risk/reward paradigm shifts decidedly negative for the shares” after surging since its IPO “with very little change in the fundamental story.”
Palantir Technologies (PLTR.US) shares rose more than 150% in November, even though there was no major news during the month which would explain the move. Stock launched today's session with a bearish price gap and is currently testing local resistance at $23.30 which coincides with 50SMA (green line). As long as the price sits below it, continuation of the downward move looks probable. Next support lies at $21.00. On the other hand, if sellers will manage to regain control and break above the aforementioned  moving average, then upward move towards $25.15 may accelerate. Source: xStation5
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