Palantir stock price ended on $14.61 on Tuesday after gaining 4.81%

The Palantir stock price gained 4.81% on the last trading day (Tuesday, 27th Jun 2023), rising from $13.94 to $14.61. During the last trading day the stock fluctuated 5.73% from a day low at $13.96 to a day high of $14.76. The price has fallen in 7 of the last 10 days and is down by -6.65% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 55 million shares were bought and sold for approximately $803.83 million.

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 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 115.90% during the next 3 months and, with a 90% probability hold a price between $27.56 and $38.15 at the end of this 3-month period.

The Palantir stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $14.77. On a fall, the stock will find some support from the long-term average at approximately $13.26. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Thursday, June 15, 2023, and so far it has fallen -11.99%. 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 $12.64 and $11.74.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 $12.64. If this is broken, then the next support from accumulated volume will be at $11.74 and $11.71.

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 $0.800 between high and low, or 5.73%. For the last week, the stock has had daily average volatility of 5.60%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Palantir stock to perform well in the short-term.