PLTR's weekly uptrend bent but did not break

Palantir Technologies (PLTR) has struggled after failing to hold its late October breakout from an August-October bullish cup and handle (11/4, 9/26, and 9/11 Straight from the Chart posts).

Even so, the weekly uptrend has bent but not broken, with PLTR holding above the rising 26-week moving average (WMA) at 164 and projected rising channel support near 155. A sustained move back above the rising 13-WMA near 176–177 is the next hurdle to reassert the uptrend and open initial upside potential to 190 (chart resistance) and 207.52 (the early-November peak).

While rising channel remains intact above 155, the potential exists for upside to rising channel resistance from 240 to 260 into early 2026 if PLTR can regain its former status as a momentum stock. However, we would get more worried about PLTR's chart structure if the stock cannot reclaim the 190 area.

Key supports reside at the November and August lows from 147.56 to 142.34, reinforced by the rising 40-WMA at 143.69.

PLTR is also defending rising 26- and 40-WMAs and maintaining relative strength support versus the S&P 500.

Chart 1: Palantir Technologies (PLTR) (top) and relative to the S&P 500 (bottom)