Palantize Technologies Inc. PLTR announced on Monday that the company had been selected by the National Nuclear Security Administration for a five-year, $89.9 million contract.
The contract is for the NNSA Safety Analysis, Forecasting and Assessment Report Project.
The Palantir map: On Benzinga’s “Get Technical” YouTube show, Neal Hamilton analyzed the chart and said he was bullish for several reasons, including the double-dip pattern.
If Palantir closes a session above the 50% line – referring to the Fibonacci retracement level – Hamilton said he is targeting $26.80 for a short trade.
“The reason for that is that we hit the midpoint of our rounded bottom and are targeting the neckline,” he said.
“If we break above that, you’re going to encounter resistance at the 50-day moving average.”
See also: How to Buy Palantir Technologies (PLTR) Stock
If the stock breaks above the 50-day moving average, Hamilton said he is looking for Palantir to move to $32-$33 per share.
Upcoming Palantir Event: Palantir recently announced an upcoming event, “Double Click”, in which the company will showcase how its platforms are used across industries and customers.
The event will take place on Wednesday, April 14. You can register for the event here.
PLTR Price Action: Shares of Palantir rose 1.99% to $23.53 when last checked on Monday.
Image by Daniel Agrelo from Pixabay.