Palantir Technologies (PLTR) reached its highest closing price in history, closing at $131.78 on Friday, just below the all-time high of $133.49. The stock also marked a monthly new closing high and has been consolidating since breaking into new all-time highs on May 14. Technical analysis noted a bullish cup and handle pattern this week, with the 20-day simple moving average (20sma) highlighted as a key technical level. Some market commentators and analysts speculated on Palantir's long-term valuation potential, with Martin Shkreli stating, "Palantir has the potential to be worth $10T and they are a key player in the AI revolution." Shkreli also suggested the stock could increase 33x from current levels. Despite the strong price action, some observers raised concerns about overvaluation. Trade ideas for Palantir included a June 6th 135 call option, with a trigger price of $132, a target of $133.49 and $135, and a stop at $130. In the broader market, professional investor positioning remains depressed, with funding spreads near 12-month lows. Speculative activity or hedging pressure persists in the options market, and the 20sma is seen as an important level for Palantir going forward.