Nasdaq futures are up 0.47% while S&P 500 futures have gained 0.60%.Palantir reported second-quarter revenue growth of 93% year-on-year to $1.94 billion and adjusted earnings of 41 cents per share, topping consensus estimates of 30 cents.Accelerating Demand SurgeDA Davidson analyst Gil Luria reiterated a Buy rating and raised his price forecast from $175 to $200. Revenue beat expectations by approximately $136 million, with U.S. clients contributing 38 of 44 new customers.Luria wrote, "Palantir has several competitive advantages over all other software companies, which is becoming more pronounced in the era of AI, helping the company provide guidance substantially above expectations."Bearish Short PositionsPalantir Stock: Key Levels and Momentum IndicatorsPalantir is extended versus its major trend gauges, trading 25.6% above the 20-day SMA ($130.12) and 7.1% above the 200-day SMA ($152.54), which tells you the recent run has been fast even by its own standards.RSI is the cleaner momentum lens right now: at 72.74, it’s in overbought territory.One nuance: the longer-term moving-average structure still carries some baggage, with the 50-day SMA below the 200-day SMA (the death cross that occurred in February). In other words, the near-term price action is strong, but the longer-term trend repair is still in progress—so traders will likely watch whether dips hold above the 200-day area rather than slicing back through it.