High volatility in Palantir stock price on Tuesday which ended trading at $9.22

The Palantir stock price gained 21.16% on the last trading day (Tuesday, 14th Feb 2023), rising from $7.61 to $9.22. 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 12.94% from a day low at $8.23 to a day high of $9.30. The price has been going up and down for this period, and there has been a 18.51% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 149 million more shares were traded than the day before. In total, 214 million shares were bought and sold for approximately $1.97 billion.

Citigroup is very positive about PLTR and gave it a "" rating on Feb 03, 2023. The price target was set to 5.Over the last 90 days, this security got 3 buy, 3 sell, and 0 hold ratings.

Given the current short-term trend, the stock is expected to rise 6.78% during the next 3 months and, with a 90% probability hold a price between $6.75 and $9.85 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 $8.16 and $7.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, December 27, 2022, and so far it has risen 53.67%. 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 $8.99 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 $1.07 between high and low, or 12.94%. For the last week, the stock has had daily average volatility of 6.75%.

Palantir holds several positive signals and is within a weak 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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.