PLTR, NOC and RTX Forecast – AI and Military in Focus

Palantir (PLTR) Technical Analysis

Palantir looks like it’s going to open a little bit negative to kick off the trading session here on Tuesday, as we continue to see the $128 level underneath offering quite a bit of support. This is an area that I think a lot of people will be watching very closely, and with that being the case, I think any time we pull back, you have to watch whether or not the buyers come in and defend Palantir.

It is worth noting that the 50-day EMA is getting awfully close to crossing below the 200-day EMA, and that in and of itself could kick off a little bit of algorithmic selling, but as long as $128 holds as support, I think you’re probably looking to take advantage of value on pullbacks.

Northrop Grumman (NOC) Technical Analysis

The market, of course, is going to be very interested in Northrop Grumman as Northrop Grumman is, of course, a major military manufacturer, and it looks like it’s ready to go much higher. This is a market that has been in an uptrend for a while, and now that we have actual kinetic war going on, that is good for business.

With that being the case, short-term pullbacks should end up being buying opportunities unless, of course, peace breaks out, but as long as the tensions remain high, this is a buy on the dip market, assuming you even get a dip. 700 seems to be on the floor at the moment.

RTX Technical Analysis

RTX is rallying as well. It is known for its defense systems when it comes to drones and missiles, so we’ll have to see how this plays out but this is I think a little healthier uptrend in the sense that it was just going at a nice 45-degree angle to begin with.

Short-term pullbacks should be buying opportunities. I have no interest in shorting. The 50-day EMA at $195 is your floor. I don’t see that being tested unless, of course, we suddenly get a cease to all hostilities. As far as targets are concerned, it’s just higher. There is no price target at this point.