Palantir stock price ended on $9.94 on Wednesday after gaining 4.08%

The Palantir stock price gained 4.08% on the last trading day (Wednesday, 10th May 2023), rising from $9.55 to $9.94. It has now gained 4 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 8.88% from a day low at $9.46 to a day high of $10.30. The price has risen in 6 of the last 10 days and is up by 28.42% over the past 2 weeks. Volume fell on the last day by -75 million shares and in total, 148 million shares were bought and sold for approximately $1.47 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 and gave it a "" rating on Jan 05, 2023. The price target was set to 7.5.

The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $9.82, a level that may pose a second chance to hit a runner. According to fan-theory $12.50 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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, 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 $8.17 and $8.22. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 10, 2023, and so far it has risen 35.24%. 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 $9.55 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 $0.84 between high and low, or 8.88%. For the last week, the stock has had daily average volatility of 6.15%.

Palantir holds several positive signals and the break up from the falling trend indicates a possible shift of trend as well. The trend doesn't have to go from falling to rising, it may as well go horizontal or even just decrease the earlier fall rate, but we find the risk-reward to be attractive and expect the stock to perform very well in the short term period.