Chart of the Day for Week of February 16 - Palantir

Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.

Is the bottom in for Palantir (PLTR)?

After a powerful run to $207.52 and a sharp corrective pullback, traders are once again debating whether the worst is over. But markets do not bottom because sentiment wants them to. They bottom when structure confirms it.

Right now, on the monthly chart, only one level matters.

Since May 2023, ChartPros has published 700+ Chart of the Day posts designed to help traders learn how to read price with clarity and confidence. As markets evolve, so should the way we study them.

Starting in January 2026, Chart of the Day transitioned to a weekly format. Each featured chart now includes deeper analysis, clearer structure, and more strategic context.

Fewer charts. More focus.

Consistent profitable investing and trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and a performance oriented execution environment create the foundation for long-term success.

When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame.

As requested, this analysis takes a pure price action technical analysis approach to assess key levels and potential next price moves.

The 5-Step Charting Process in the NeuroTrading Method®

The 5-Step Charting Process in the NeuroTrading Method® is a structured approach to reading price action with clarity and confidence. This process is designed to eliminate guesswork, reduce noise, and support disciplined execution.

1. Identify Support and Resistance (S/R)
Key levels are marked on the Monthly and Weekly charts, working left to right to establish long-term market structure.

2. Assess Trend Structure
Trend direction is evaluated across time frames to determine whether price is trending, transitioning, or consolidating.

3. Apply Fibonacci Anchoring
Only Fibonacci levels visible on the chart are used, with anchors placed precisely to highlight reaction zones and extensions.

4. Map Change Control Zones and Supply/Demand
Areas where control shifts between buyers and sellers are identified to define decision points.

5. Develop the Trade Plan
Directional bias, levels of interest, risk parameters, and execution criteria are defined before any trade decision is considered.

Stop Overthinking Your Trades.  Trade Inside a Performance Environment Built for Consistent Execution.  

Watch Free Market Insights Briefing: The Execution Gap Most Traders Rarely Fix

Monthly Chart Insights and Analysis 

Palantir’s long-term move has been extraordinary. From sub-$10 levels to over $200, the expansion phase was aggressive and extended.

That type of move does not reverse quietly.

Since topping near $207.52, price has pulled back toward the $125 region. The monthly structure now defines a clear decision zone.

The only level that matters on the monthly chart for now is $125.41.

This area represents:

• Prior breakout structure

• A key retracement region

• A level where long-term participants must defend

If this zone holds and price builds higher lows above it, the corrective phase may transition into consolidation.

If $120 fails on a sustained basis, downside opens toward the next structural shelf near $95 to $100.

The monthly chart is not about prediction. It is about defense.

With plenty of volatility traders have had much to be happy with but long term buy and hold investors have been on a roller coaster ride lately.

This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.

Weekly Chart Insights and Analysis 

The weekly chart reveals the damage more clearly.

After rejecting near $207.52, price failed to hold successive potential support levels. Each failure accelerated selling pressure.

Now price sits just above the $120 support shelf.

Key weekly levels:

• Immediate support: $120 to $125

• Breakdown risk: Below $120 opens path toward $95 to $100

• Reclaim trigger: Sustained move back above $165 shifts intermediate control

Until $165 is reclaimed, rallies remain suspect. Until $120 breaks, the bottom thesis remains possible but unconfirmed.

This is a market in decision mode.

Execution-focused traders wait. They let price reclaim levels, confirm control, and remove emotion from the decision entirely.

As always, patience matters more than prediction.

It goes without saying though, the only guarantee in the markets is that price cycles.  It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.

Only time will tell for sure what price will do next...

We’ve combined Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.

With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.

The Execution Environment Lesson

Palantir does not require a prediction.

It requires discipline.

If the bottom is in, price will defend $120 and reclaim higher resistance. If it is not, the breakdown will be obvious.

Most traders lose money because they anticipate confirmation instead of waiting for it.

Preparation defines the level.
Rules define the response.
Execution removes emotion.

Read the chart. Not the headlines.

Key Takeaway

This weekly Chart of the Day format reflects how successful traders actually operate in a Performance Execution Environment. They do not need more charts. They need better structure, better preparation, and clearer decision frameworks.

Chart of the Day is not going away.
It is leveling up.

So what's next? 

Because You Were Interested in today's FREE Chart of the Day...

You may also be interested in this Free Market Insights Briefing designed for independent traders who already understand price action but want consistent decision-making, discipline, and follow-through under real market conditions.

"The Execution Gap Most Traders Rarely Fix"

A ChartPros Briefing on why strategy isn’t the problem and how the right trading environment changes performance. 

 

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Designed specifically for independent traders committed to consistent execution.