Palantir (PLTR) shares traded sharply higher in extended trading on Monday after the analytics software provider topped third-quarter estimates and lifted its full-year revenue outlook amid robust demand for its artificial intelligence (AI) offerings.
In particular, the company pointed out AI demand from government and commercial customers, adding that it expects the rapid adoption of its platforms and AI capabilities to drive future growth. Palantir shares have gained more than two-fold since the start of the year as of Monday’s close, boosted in part by the stock’s recent inclusion into the large cap S&P 500 index.
Palantir shares gained 14% to $47.09 in after-hours trading Monday.
Below, we analyze the technicals on Palantir’s chart and identify important post-earnings price levels to watch out for.
Since breaking out above a flag pattern in early September, Palantir shares trended sharply higher for about a month before consolidating within a broadening formation.
Leading into the company’s …