TradingKey - Palantir's stock rises ahead of earnings, but $145 may be the limit of the post-earnings rally.
On August 3, Eastern Time, Palantir ( PLTR) on the eve of releasing its fiscal 2026 Q2 earnings, showed clear dip-buying positioning as the stock rose over 2% intraday to briefly break above $126. Against the backdrop of the recent continuous correction, Palantir's stock price faces a core strong resistance level of $145, which serves as a short-term battleground for bulls and bears and a technical rebound level.
Since peaking in November last year, Palantir's stock price has fallen into a downward trend, dropping to a low of $106 on June 25 this year to hit a one-year low, while expanding its maximum drawdown to 49%. Currently, Palantir's stock remains in a downward channel and is testing its midline near $120, with bears holding a short-term advantage.
Palantir stock price chart, Source: TradingView
Palantir will release its second-quarter earnings after the market closes today. If the results are disappointing, there is a high probability that PLTR's stock price will break below the midline, with further downside support testing the psychological barrier of $100, which is also the year-to-date low. If positive earnings stimulate the stock to break above $131.50, the first major technical target and resistance level will sit at $145. This is the first substantial level of the 0.382 Fibonacci retracement and coincides with the upper channel line, presenting a dual obstacle. Breaking above this level would signal a reversal of the past year's downward trend.
However, for buying pressure to strongly absorb the selling pressure from locked-in positions at $145, Palantir's Q2 earnings report tonight must meet two key conditions: 1. Revenue and EPS must significantly beat estimates: the market consensus estimate for Q2 revenue is $1.812 billion and GAAP EPS is $0.34; 2. Significantly raise Q3 and full-year guidance: management must raise the full-year revenue guidance (currently $7.65 billion to $7.66 billion) again to demonstrate the irreplaceable moat of its artificial intelligence platform (AIP) commercialization, and to dispel bears' doubts over its high P/E ratio.
Although Palantir has yet to report its earnings and its stock price remains under downward pressure, Wall Street optimists believe it could still rise to new highs over the next 12 months. Among them, Wedbush and Citi are both bullish on Palantir's explosive growth in U.S. commercial AI data analytics and its extremely high customer stickiness, setting price targets of $230 and $235, respectively.
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