Palantir Technologies Inc. PLTR is proving unstoppable, with shares soaring following the announcement of a significant U.S. Army contract extension on Thursday.
This deal, which could reach $618.9 million over four years, underscores Palantir’s growing role in delivering cutting-edge AI and data solutions for military operations.
Read More: Palantir Strengthens Army Partnership, Adds AI And Data Enhancements In $618.9 Million Contract
Palantir’s Winning Partnership With The Army
Since 2018, Palantir has been a cornerstone of the Army’s Vantage program, empowering decision-making with advanced analytics and AI.
The company’s software integrates and visualizes data from multiple sources, enabling operational efficiencies and optimizing processes across the Army enterprise.
With over 100,000 users, Vantage set a usage record this year, solidifying Palantir’s reputation as a go-to tech partner.
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Technical Tailwinds Could Push PLTR Stock Higher
From a technical standpoint, PLTR stock is in strong bullish territory:
- Eight-day SMA: $73.58 (PLTR at $71.03 – selling pressure signals)
- 20-day SMA: $70.76 (bullish signal)
- 50-day SMA: $58.42 (bullish signal)
- 200-day SMA: $34.95 (bullish signal)
With a Relative Strength Index (RSI) of 56.46, the stock isn’t overbought, suggesting room for further gains. The MACD of 4.23 reflects ongoing bullish momentum, adding weight to the upward trajectory.
What’s Next For Palantir Stock?
As if the contract extension wasn’t enough, Palantir will join the Nasdaq 100 Index next Monday, a move expected to draw even more attention from institutional investors. Having already skyrocketed over 330% this year, PLTR stock is showing no signs of slowing down, cementing its status as one of the year’s top-performing tech stocks.
With the U.S. Army deal and Nasdaq 100 inclusion, Palantir continues to defy gravity. Investors should prepare for what might be a transformative chapter in its growth journey.
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