On Friday, we noted, “After finding strong support at around $126.37, oversold shares of Palantir (PLTR) are just starting to pivot higher again. Last trading at $136.64, we’d like to see the stock race back to $170 initially. We should also note PLTR is pivoting from overextensions on RSI, MACD, and Williams’ %R, and that analysts are piling on.”

From $136.64, PLTR is now up to $146 as of Monday, March 2.

All as war with Iran intensifies.

In fact, driven by its role in defense and artificial intelligence, particularly following increased geopolitical tensions between the U.S. and Iran, investors are rotating into defense stocks like Palantir, which is seen as critical for military intelligence and AI-driven warfare.

In addition, PLTR could benefit from the fallout from the Department of War’s dispute with research company, Anthropic.  Not only did President Trump instruct federal agencies to “immediately cease” use of Anthropic’s AI tools, but Defense Secretary Pete Hegseth said Anthropic would also be designated a “supply chain risk,” a move normally reserved for foreign businesses considered a danger to American national security, said Wired.com.

PLTR last traded at $146. From here, we’d like to see it rally back to $170 initially.

Sincerely,

Ian Cooper