Palantir and Salesforce stocks decline further, testing key support levels amid weakening technical trends and momentum indicators.
Palantir (PLTR) fell to a one-year low Monday, extending its decline Tuesday and approaching a fifth consecutive drop. The stock hovers near $125, a critical support level from its prior trading range, with bulls needing a rebound above this mark to counter the breakdown.
Salesforce (CRM) snapped a 14-day losing streak, its worst in history, but remains near three-year lows. Both stocks show weakening momentum, with Palantir’s 200-day moving average trending downward and its RSI failing to signal an imminent bounce. CRM’s 40-week moving average also slopes lower, reflecting broader technical weakness.
Technical indicators suggest limited upside without a shift in broader trends. Oversold RSI readings below 30 typically support rebounds, but only if the longer-term trend remains positive—currently not the case for either stock.