July 27, 2021

Palantir Technologies falls as markets have an ugly close to July OPEX week

  • NYSE:PLTR fell by 0.47% amidst another day of broader market sell offs. 
  • Palantir is nearing oversold territory and once again found support above $21.00.
  • Palantir has been getting hammered by put sweepers, signalling that options traders have turned bearish.

NYSE:PLTR shrugged off its one-day reversal on Thursday as market makers gave investors a bloody end to July OPEX week. Shares of Palantir fell by 0.47% on Friday, and closed the tumultuous week at $21.37. All three major indices tumbled to close the week and the broader growth sector correction hit cyclical sectors like the travel and energy stocks as well. While Palantir continues to trade within a fairly tight range, the MACD has flipped over to bearish during these past couple of red weeks, signalling that the stock may need volume or a catalyst to snap this ongoing downtrend.

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