Palantir stock fell with insiders’ cash: Can the bulls hold this line? – Palantir Technologies (NASDAQ: PLTR)

Palantir Technologies Inc. pltr It has been a roller coaster, and has soared more than 268% over the past year and is still growing 20% ​​to this day.

However, stocks have dropped sharply by more than 16% over the past five days, with the wave of insider sales attracting attention.

Since February 18, several executives, including the CEO Alexander Karp and the President Stephen CohenAccording to Yahoo Finance data, a large number of shares have been unloaded. KARP alone ranges from $96.43 to $108.28 per share, while Cohen’s sales totaled more than $69 million.

Chief Technical Officer Shyam Sankar Nearly $38.4 million in stock was cashed in.

Since insiders collectively call stocks worth hundreds of millions of dollars, investors want to know: Do they know the market does not have it?

Also Read: Palantir CEO Alex Karp has a new book on Silicon Valley: “The Moment to the West”

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From a technical point of view, Palantir stock trends are showing cracks. The stock price is $90.37, well below its simple moving average of eight-day and 20-days, at $100.31 and $103.05, respectively, signaling short-term bearish momentum.

As the stock is still at its 50-day moving average of $86.21 and the 200-day moving average of $49.23, this indicates a long-term bullish trend.

The moving average convergence difference (MACD) indicator is 2.71, with a bullish bias, while the relative strength index (RSI) is 44.87, indicating that the stock is close to oversold territory, but not yet.

Palantir stock could be towed by towed tugs, between insiders’ suspicion and long-term bullish momentum.

If the stock retracts the average of the keys, the bull can restore control, but investors should act cautiously as sales pressure continues.

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