Michael Burry, the well-known investor who inspired the film "The Big Short," has issued a warning that Palantir Technologies Inc. is facing a significant technical downturn. He shared a chart indicating that the high-growth artificial intelligence stock could fall by nearly 60%.

In a post on social media platform X on Tuesday, Burry presented a technical analysis of Palantir's stock price movement, pointing to a classic "head and shoulders" reversal pattern. The chart clearly shows a distinct "left shoulder," "head," and "right shoulder" formation.

According to Burry's analysis, the next support level for Palantir's stock is near $80, with the ultimate "landing zone" expected between $50 and $60. As of Monday, the stock was trading at $142.91 per share. A drop to $60 would represent a decline of 58%.

This technical perspective aligns with Burry's existing skepticism toward the company. In November of last year, he clarified a large put option position, stating, "I bought 50,000 of these at $1.84 each... each one allows me to sell Palantir stock at $50 in 2027." Burry has previously referred to the tech stocks he is shorting as "modern-day frauds."

Despite Palantir CEO Alex Karp previously dismissing Burry's short position as "just crazy," the investor remains steadfast. Burry's latest chart suggests that, regardless of Palantir's recent earnings performance, the "AI bubble" he has long warned about is finally losing its structural integrity.