Check out these Palantir price levels after the stock’s inclusion in the Nasdaq 100

• Palantir shares are likely to be in the spotlight Monday after Nasdaq announced late Friday that the analytics software provider was added to the Nasdaq 100 Index.

• The stock continues to trend strongly higher after breaking out of the cup-and-handle pattern, although the Relative Strength Index warns of overbought conditions that could lead to near-term price volatility.

• The measurement principle, which calculates the percentage change in the “cup” of the cup and handle and adds it to the pattern’s upper trendline value, predicts a bullish price target of $140.07.

• Investors should keep an eye on key lower levels at $45 and a support zone between $33 and $29 on the Palantir chart.

Palantir Technologies (PLTR) shares are likely to be in the spotlight on Monday after Nasdaq announced late Friday that the analytics software provider would partner with MicroStrategy (MSTR) and Axon Enterprise (AXON), was added to the Nasdaq 100 Index.

The stock’s addition to the tech-heavy benchmark comes after it more than quadrupled year-to-date through Friday’s close, driven by growing demand for the software maker’s customizable artificial intelligence (AI) offerings. The company’s shares became eligible for inclusion in the index following a strategic move from the New York Stock Exchange (NYSE) to Nasdaq last month.

Below, we break down the technicals on Palantir’s weekly chart and identify key price levels that investors may be paying attention to.

Palantir shares have continued to trend sharply higher since breaking out of a multi-year cup-and-handle pattern in August. Trading volumes have supported the rise, indicating buying participation from larger market participants.

The Relative Strength Index (RSI) confirms bullish momentum, although the indicator’s elevated value above 80 indicates overbought conditions that could lead to price volatility in the short term.

Let’s use technical analysis to forecast a longer-term bullish price target while highlighting key support levels that could generate buying interest on retracements.

To predict a potentially bullish price target, investors can use the measurement principle, a chart-based technique that analyzes the cup and handle pattern to predict a future move.

When we apply the method to the Palantir chart, we calculate the percentage change in the “cup” of the cup and handle and add it to the upper trendline value of the pattern. For example, we add a 383% increase to $29, forecasting a target of $140.07, about 85% above Palantir’s Friday closing price.

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