I last reviewed the shares of Palantir Technologies (PLTR) on August 7 and wrote that " Palantir has made some impressive gains for traders and investors since December... but with prices pulling back... with some bearish divergences I recommend that traders who are long PLTR should nail down profits... and we'll look for a re-entry area in the months ahead."
Let's check on the charts again today for Palantir, which is a holding of the Stocks Under $10 portfolio.
In the daily bar chart of PLTR, below, I can see that the shares corrected to the downside during August. The shares are trading below the 50-day moving average line and above the 200-day moving average line.
The On-Balance-Volume (OBV) line has been stalled the past three months. The Moving Average Convergence Divergence (MACD) oscillator fell below the zero line in August for an outright sell signal.