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The Palantir stock price gained 4.05% on the last trading day (Wednesday, 9th Oct 2024), rising from $41.45 to $43.13. During the last trading day the stock fluctuated 5.14% from a day low at $41.22 to a day high of $43.34. The price has risen in 6 of the last 10 days and is up by 16.19% 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, 24 million more shares were traded than the day before. In total, 86 million shares were bought and sold for approximately $3.70 billion.
On Sep 27, 2024, it was reported that Wedbush gave PLTR a "Positive" grade with a "hold" action.
Given the current short-term trend, the stock is expected to rise 46.74% during the next 3 months and, with a 90% probability hold a price between $49.84 and $63.29 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 $39.52 and $35.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, August 05, 2024, and so far it has risen 79.04%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
On the downside, the stock finds support just below today's level from accumulated volume at $37.20 and $34.76.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Palantir finds support just below today's level at $37.20. If this is broken, then the next support from accumulated volume will be at $34.76 and $34.60.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.12 between high and low, or 5.14%. For the last week, the stock has had daily average volatility of 4.47%.
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.