Green day on Tuesday for Palantir

The Palantir stock price gained 0.756% on the last trading day (Tuesday, 1st Aug 2023), rising from $19.84 to $19.99. 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 5.25% from a day low at $19.23 to a day high of $20.24. The price has fallen in 6 of the last 10 days but is still up by 10.56% over the past 2 weeks. Volume fell on the last day by -41 million shares and in total, 99 million shares were bought and sold for approximately $1.97 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

Jefferies is very positive about PLTR. The price target was set to 7.5 (Jan 05, 2023).

The stock lies in the middle of a 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 79.34% during the next 3 months and, with a 90% probability hold a price between $31.82 and $38.23 at the end of this 3-month period.

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 $17.58 and $16.22. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 26, 2023, and so far it has risen 43.40%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Palantir finds support from accumulated volume at $19.84 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 $1.01 between high and low, or 5.25%. For the last week, the stock has had daily average volatility of 6.45%.

Palantir holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.