$PLTR · Schwab Network · 2026-10-30

Let's talk about Palantir . I mean, it's certainly risen a lot from the lows we saw in June, but when you look at it more broadly against the market, it's affected today by the sell-off in the technology sector, but what do you see when you compare it to the performance of the broader market?

Yes, I think Palantir is one of those names that stands out at the forefront. But I think when compared to the S&P 500, it really stands out because it was among the leading stocks, while some other technology stocks declined slightly, and in some cases, significantly.

Palantir has maintained some of that upward momentum.

In fact, you can see that over the past month. Since the beginning of October when we started to see a slight downward trend in the S&P index , Palantir has been making new higher highs, and now it has started to pull back from that a little.

The question now is, given its presence at a horizontal support level, and the possibility of it breaking some of the sloping upward trend lines , will it lose that lead or will it maintain it?

I mean, the correlation between the S&P 500 and Palantir is very high. In fact, most of the time, the company maintains an almost identical correlation with the overall index, Marley.

There are definitely some differences. However, in terms of path, they remain very close to each other. In terms of size, Palantir is the leader in this group of peers, which includes CrowdStrike, DataDog, and Snowflake.

I think when you look at this sector, you will find that these are some of the names that were affected during the month of October. This is a daily chart for three months that we look at on a percentage basis .

So, I saw an effect on all these names. However, Palantir may have been the least affected by that impact, and I think this reflects not only their wider adoption base, but perhaps also their capture of investor attention, whereas other companies may simply be alternatives to that name.

But for now, Palantir's shares remain resilient compared to some other names, even on a percentage basis. But let's look at Palantir on its own and analyze the technical aspects before this earnings report, because you mentioned that we are approaching critical levels.

So, looking at the technical aspects alone, what levels seem prominent to you here ?

First, the 50-day moving average, which is currently at approximately the stock price level, i.e., around the 185-186 level. This means a breakout from this 50-day moving average.

Now, the price has fallen slightly from that level. There are a few buys towards the end of the day, with some support received in the last fifteen minutes or so . But this would be the first time we see a breakout of the 50-day moving average since the August earnings announcement, which saw a significant upward gap.

That large upward gap that started this rise has broken through the resistance level at 166. Now, we have this symmetrical triangle centered around the 197 mark, and today represents a break of this triangle .

However, the stock is maintaining a horizontal support level around 186, where the 50-day moving average is located .

The RSI momentum indicator did not decline significantly. I mean, it has definitely dropped, but we are not seeing new lows, so it is not really driving the price down. Implied volatility is at an all-time high, and I think that's driving, Marley, some of today's options activity as we see a lot of selling in long contracts, particularly at the 197.5 level and even further out at strike prices of 205 on contracts expiring today.

This suggests that there may be some "spread" strategies, or perhaps short selling of long contracts, with the expectation that the price will remain relatively low. Anyway, this upward movement starts here in the next few minutes, and if it continues into next week, it might surprise some options sellers if "Gamma" really starts to rise as the price moves upward, Marley.