Palantir shares are likely to be in the spotlight on Monday after the Nasdaq announced late Friday that the analytics software provider had been added to the Nasdaq 100 Index. Monitor these key chart levels.

A Nasdaq-100 index membership means mutual funds, exchange-traded funds (ETFs), and other financial products based on this index will have to buy shares of Palantir. This increased demand should exert at least some upward pressure on the stock price.

Data analytics company Palantir Technologies, Inc. ($PLTR) is set to join the Nasdaq 100 Index, less than three months after it was added to the broader S&P 500 Index. Late Friday, Nasdaq announced that Palantir,

Palantir shares are likely to remain in focus after jumping Tuesday following news that the analytics software provider's entire product suite has received approval for use in processing sensitive federal workloads.

Barron’s wrote Friday that Palantir and MicroStrategy led the list of potential adds to the Nasdaq 100. Palantir shifted to the Nasdaq from the NYSE in November to be eligible for inclusion in the Nasdaq 100 at the reconstitution.