Green day on Monday for Palantir stock after gaining 1.52%
StockInvest.us, 1 week ago
The Palantir stock price gained 1.52% on the last trading day (Monday, 3rd Feb 2025), rising from $82.49 to $83.74. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 7.37% from a day low at $78.47 to a day high of $84.25. The price has risen in 7 of the last 10 days and is up by 16.68% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 18 million more shares were traded than the day before. In total, 96 million shares were bought and sold for approximately $8.07 billion.
On Jan 23, 2025, it was reported that Wedbush gave PLTR a "Outperform" grade with a "hold" action.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 32.72% during the next 3 months and, with a 90% probability hold a price between $93.25 and $121.85 at the end of this 3-month period.
Mostly positive signals in the chart today. The Palantir stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $80.27 and $75.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, January 13, 2025, and so far it has risen 28.87%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Palantir finds support from accumulated volume at $80.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $5.78 between high and low, or 7.37%. For the last week, the stock has had daily average volatility of 5.74%.
The Palantir stock is extremely overbought on RSI14 (85). This increases the short-term risk substantially.
Palantir holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Check full Palantir forecast and analysis here.