Palantir stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session
StockInvest.us, 2 weeks ago
No changes to the price of Palantir stock on the last trading day (Friday, 24th Jan 2025). During the last trading day the stock fluctuated 4.84% from a day low at $78.44 to a day high of $82.24. The price has risen in 7 of the last 10 days and is up by 15.76% over the past 2 weeks.
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 48.29% during the next 3 months and, with a 90% probability hold a price between $101.37 and $136.20 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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $73.86 and $74.06. A breakdown below any of these levels will issue sell signals. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, December 24, 2024, and so far it has fallen -4.13%. Further fall is indicated until a new bottom pivot has been found. 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 $72.46 and $65.81.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 $72.46. If this is broken, then the next support from accumulated volume will be at $65.81 and $61.25.
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 $3.80 between high and low, or 4.84%. For the last week, the stock has had daily average volatility of 4.23%.
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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Check full Palantir forecast and analysis here.