Palantir Drops 7% to $119.50, Breaks Key $127 Support Level

According to Barron's, Palantir (PLTR) stock fell nearly 7% on Monday (June 23), closing at $119.50 and breaking below the $127 support level that had held since February. The intraday low reached $119.20, marking the lowest close in over a year. Analysts warn that breaking this technical level signals potential for further declines. However, Wall Street maintains a bullish outlook on average, with a mean price target of $189.87—implying 57% upside potential. Among 33 tracked institutions per FactSet, 17 issue 'buy' ratings, 3 'outperform,' 11 'hold,' and only 2 'sell.'
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