The price of Palantir is trading down $-15 or -12% at $109.48 after Pres. Trump ordered the Pentagon to cut budget by 8%. The price of Palantir reached a new all-time high of $125.41 in trading today before rotating to the downside.
You can argue that the software that Palantir provides might be what the Pentagon needs to cut costs and increase efficiency. You can also argue that shares of Palantir shares have increase by close to 100% since the January 13 low to the new high today(around 98%). That's a big run in 25 trading days.
You go big to the upside, you can go big to the downside too.
The low price from February 12 came in at $109.87 (its moved below that already). The rising 100 hour moving average comes in at $106.43 and the 38.2% retracement of the move up from the January 13 low at $101.95 are the next downside targets. The last time the price traded at $106.42 was on February 5th. Even I can remember that far ago.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about palantir trades down close to 15 on defense spending cuts was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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