PLTR Stock Tests 0.618 Fibonacci Support After Pullback from $200 Highs

Palantir Technologies (PLTR) stock has retraced into a major technical support zone following a powerful rally that previously pushed shares above $200. According to Thomas James Investing, the stock is now testing the 0.618 Fibonacci retracement level measured from its all time highs to its all time lows. This level, often referred to as the golden pocket, is widely viewed by traders as a critical area within broader uptrends.

The weekly chart shows PLTR consolidating near this retracement after the recent correction began, placing the stock at a potentially decisive moment.

Key Technical Levels in Focus

The 0.618 Fibonacci Retracement

The 0.618 Fibonacci level is commonly considered a strong support zone during constructive pullbacks. In PLTR’s case, this retracement marks a technically significant area where buyers may attempt to defend the broader uptrend.

PLTR has now pulled back into the 0.618 Fibonacci retracement level. This is a significant zone known as the golden pocket.

Holding this level would signal relative strength and reinforce the idea that the recent decline is part of a normal retracement within a larger bullish structure.

The 0.5 Level Near $100

Below the golden pocket sits the 0.5 Fibonacci retracement near $100. This area acted as key support during the April 2025 correction. At that time, PLTR revisited this level before resuming its upward advance.

If the current 0.618 support fails, a move toward the 0.5 level would represent a deeper correction and a psychologically important test for investors. The $100 zone could become the line in the sand for the longer term trend.

Additional Reference Points

Other technical levels provide context for potential price movement:

• 0.786 retracement near $164
• 0.382 retracement near $83

These levels serve as reference points for both downside risk and potential upside recovery scenarios.

Market Structure and Cluster Analysis

Beyond Fibonacci retracements, cluster analysis tools highlight areas of concentrated trading interest. HeatSeeker data shows institutional ownership climbing through specific activation zones.

King Nodes around $150 and $160, along with additional nodes near $140 to $145, represent price areas where participation may intensify. If PLTR attempts a recovery from the golden pocket, these clustered zones could influence price behavior and act as intermediate resistance or support.

Broader retracements across technology and AI equities also reinforce the relevance of Fibonacci structures in the current market environment.

Why This Matters for PLTR Stock

The stock’s position at the 0.618 golden pocket creates a potential inflection point. Holding this support could suggest resilience compared with other technology names that have retraced more deeply.

Conversely, a breakdown toward the 0.5 level near $100 would signal a more substantial correction and shift the near term narrative.

Given ongoing volatility and broader market forces, PLTR’s reaction around these retracement zones may shape expectations for the stock’s technical trajectory in the coming weeks.

My Take

The 0.618 golden pocket is where bulls need to step in if the uptrend is to remain intact. A clean bounce from this zone would reinforce bullish structure and confirm strength.

However, if weakness persists, the $100 area becomes the critical threshold. The clustering of nodes between $140 and $160 suggests meaningful trading interest, which could provide momentum for a reversal if broader market conditions stabilize.

Source: Twitter Post by Thomas James Investing