Palantir's (PLTR) chart just cracked. Salesforce (CRM) is still sliding toward its next test.
Palantir stock dropped to a one-year low Monday and continued to edge lower Tuesday morning, putting it on track for a fifth straight decline. Salesforce stock is posting a small bounce, setting up to snap a 14-day losing streak, the worst run in the stock's history.
The charts still look rough.
Palantir's first line is near $125, the old floor of its prior trading range. Bulls need the stock back above that level fast to argue the breakdown was a bear trap, or a failed move lower that forces sellers to chase the stock back up.
That is not happening yet.
Palantir stock dropped to a one-year low Monday and continued to edge lower Tuesday morning, putting it on track for a fifth straight decline. Salesforce stock is posting a small bounce, setting up to snap a 14-day losing streak, the worst run in the stock's history.
The charts still look rough.
Palantir's first line is near $125, the old floor of its prior trading range. Bulls need the stock back above that level fast to argue the breakdown was a bear trap, or a failed move lower that forces sellers to chase the stock back up.
That is not happening yet.
3 hours ago
